A Quote by Paul Ryan
We`re working with the administration on working on tax reform. You can go to better.gop and see our blueprint, that`s what we`re working off of. We got to get our tax rates down.
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If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
The other thing that's really important in tax reform is making sure that we don't tax American businesses at much higher tax rates than our foreign competitors tax theirs. It is costing us jobs. It's one of the reasons all these American companies are moving overseas.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
Tax reform for the 21st century means rewarding hardworking families by closing unfair loopholes, lowering tax rates across the board, and simplifying the tax code dramatically. It demands reducing the tax burden on American businesses of all sizes so they can keep more of their income to invest in our communities.
We need a new tax system. We need entitlement reform. We need immigration reform. These are not easy things. But it is going to take our political system working better.
We need to enact fundamental tax reform. The weight and complexity of our 73,000-page tax code are crushing everyday Americans. We need to radically simplify the tax code so that we can re-start the real engine of growth in our economy. That means our tax code needs to go from 73,000 pages down to about three pages.
When two working people decide to marry, their federal income tax is usually increased. As soon as one spouse earns at least 20 percent of a married couple's total income, the couple pays a 'marriage tax.' ... The United States is the only major industrialized nation in the free world in which the tax cost of the second [married] earner's entry into the work force is higher than that of the first. On one hand, our government's social policy is to help working women earn equal salaries to those of men, but on the other we have a tax structure that penalizes them when they do so.
Let's cut the top rates of stamp duty to enable more movement to take place and also looking at the broader tax reform, simplifying our tax system.
The reason we've been growing at 1.8 percent for the last eight, ten years, which is way below the historical average, is in large part because of our tax code. It is important to us to get the biggest, broadest tax reduction, tax cuts, tax reform that we can possibly get because it's the only way we get back to 3 percent growth. That's what's driving all of this, how do you get the American economy back on that historical growth rate of 3 percent and out of these doldrums of 1.8, 1.9 that we had of the previous Barack Obama administration?
Notably, the Trump tax cuts also doubled the child tax credit, reducing the tax burden on working families so that they have more resources to devote to their children.
It is ridiculous to assume you can tax the people that are working and give the money (to people) who are not working and somehow this creates economy activity. You are destroying as much by taking from those who are working and creating.
We need to stop kicking the can down the road and rethink our entire tax system toward long-term, comprehensive tax reform.
For instance, we have to listen to the concerns that working people, our forgotten working people, have over the record pace of immigration and it's impact on their jobs, wages, housing, schools, tax bills and general living conditions.
But what is striking about this, in a town that often talks about tax cuts, we could quite easily, Republicans and Democrats working together, do something that everybody in America desires, and that is a simplification of our Tax Code.
I think we can have some tax reform, but that doesn't mean tax increases. We ought to make the, the rates flatter. We ought to get rid of a bunch of those loopholes.
Our tax policies, the tax relief and reform we passed in 2003 and 2005, helped get government out of the way of America's entrepreneurs, and our unemployment rate is now lower than it was in the 1970s, the 1980s, and the 1990s.
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