A Quote by Russell B. Long
Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'
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Tax reform means, "Don't tax you, don't tax me. Tax that fellow behind the tree."
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
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.
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.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any 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.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade.
I actually think the border tax - the concept of border tax is more of a trade issue than it is a - so when we talk about income coming in, I believe border tax in its form, if we use that, reciprocal tax is a tax that I really love because basically nobody can fight it.
We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.
The sales tax is the best and most equitable tax. The gasoline tax, which is nothing but a sales tax, has proven painless, productive and punitive. Everything we buy should have its equal proportion of tax, outside of cheap food and cheap clothes.
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.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade. So it makes the job of raising revenue easier. The revenues from the VAT can then be used to lower taxes on income and saving and investment. The Value-Added tax doesn't penalize work or saving; it's a tax on buying stuff.
In my view, until the U.S. tax policy is revised, not just tax extenders but the reform of tax policy, it makes it very attractive for us to invest on acquisition overseas.
The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax.
I don't want to get into the 'who's a hostage-taker' discussion here, but what is the estate tax? It's a double tax on death. Economists will tell you that it's really not a tax that soaks the rich, but it's a tax on capital that deprives business investment and therefore job creation.
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