A Quote by Neera Tanden
I think that Democrats have to think through answers we haven't in the past: How we are going to create those jobs? How should we restructure the entire tax code? Should we have things like a payroll tax, when jobs are so scarce? They weren't - basically the architecture of our employment law, tax law, all these things were from the 1930s - and I do think that one benefit of Donald Trump, which is not worth it, but one perverse thing is, he has widened the scope of things that we should discuss.
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Now, do I think the tax code should be simplified? Absolutely. Will Donald Trump do away with things like this? He probably is better positioned than anyone to figure out how to do away with it, because he understands the tax code better than anyone else.
All those predictions about how much economic growth will be created by this, all of those new jobs, would be created by the things we wanted - the extension of unemployment insurance and middle class tax cuts. An estate tax for millionaires adds exactly zero jobs. A tax cut for billionaires - virtually none.
What we need to do is replace the entire tax code. I do not think it makes sense to say, 'Let's just grab money from, quote, the wealthy'... The issue is the tax code's rotten and we should start truly over with a simple code that is fair and transparent.
We've got a tax code that is encouraging flight of jobs and outsourcing. And that's why we've specifically recommended in this campaign that Congress change our tax code so that we stop giving tax breaks to companies that are moving to Mexico and China and other places, and start putting those tax breaks into companies that are investing here in the United States.
I think we need to have competitive tax rates in order to create jobs in this country. And I think it should be fair.
Actually, Congress just did pass a tax plan like Donald Trump`s.They passed a tax plan which some Democrats voted for, significant number of Democrats which gave huge tax breaks to wealthy people and corporations.
It's one thing to maintain that upper-income earners should pay higher tax rates because they are better able to shoulder the burden for essential government services. But it's constitutional blasphemy to claim that the tax code should be used as a weapon against the wealthy and that the state should be the tyrannical arbiter of how income is distributed.
We should tax things we don't like. We should tax pollution ... And we should lighten the taxes on things we do like, like honest labor, like food.
I think we should have basically the same tax policy that Germany, Japan, the U.K., everybody else has, which is a tax rate in the mid-20s and no loopholes. Zero. The U.S. has the most antiquated tax system. And that means some people are going to pay more taxes, and some people are going to pay less.
Trump himself stands to benefit dramatically from the tax cuts. One of the things they're cutting is the alternative minimum tax. Last time we have tax returns for him was in 2005, where he paid about $31 million because of the alternative minimum tax. He won't have to pay that, if this tax bill goes through. So, not only is he reordering our constitutional democracy, he is personally enriching himself - which is not new, because, of course, he's done it ever since he swore an oath to become president of the United States.
The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
Millions and millions of people don't pay an income tax, because they don't earn enough to pay on one, but you pay a land tax whether it ever did or ever will earn you a penny. You should pay on things that you buy outside of bare necessities. I think this sales tax is the best tax we have had in years.
I don't think the question is if should we have a shield law. I think the question is what kind of shield law we should have. Yes, I'd like to see a federal shield law, but if and only if it provides genuine safeguards and doesn't green-light prosecutors and judges and litigants from going after the press and getting things to which they should not be entitled. It's not a simple kind of litmus test.
We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify the tax code. The ultimate answer, in my opinion, is the fair tax, which is a fair tax for everybody, because as long as we still have this messed-up tax code, the politicians are going to use it to reward winners and losers.
I think the work on tax reform, the work that's being done on regulatory reform is very important. And just having a seat at the table, I think, is so important for business today as we think about what's going to benefit the economy of this country, how we're going to create great manufacturing jobs.
Economic growth, profitability, prosperity, jobs, increased jobs, increased wages, they're able to get that tax rate down to 15% and we're gonna call it tax relief, not tax breaks, not tax loopholes. It's important to control and reclaim the language here.
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