A Quote by Sheldon Whitehouse
We can reduce our deficit, and do it in a much more balanced way than sequestration, simply by fixing our tax code to get rid of needless giveaways.
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I think we need to simplify our tax code, but not as a way of generating revenue, as a way of making our tax code more growth- friendly.
We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.
You can use the tax code to make people smoke less. You can use the tax code to make 'em smoke more. You can use the tax code to make 'em buy beer or buy less beer, more booze or less booze. You can screw the tax code around to make 'em make more charitable contributions. You think they're going to get rid of this power? Ain't no way, fool.
The harsh reality is that we simply cannot tax our way out of our overspending and debt problem. We need a balanced approach that includes both a stronger economy to generate new tax revenues and bipartisan guardrails, which will help ensure that future presidents and congresses spend within our means.
Our wisdom is all mixed up with what we call our neurosis. Our brilliance, our juiciness, our spiciness, is all mixed up with our craziness and our confusion, and therefore it doesn’t do any good to try to get rid of our so-called negative aspects, because in that process we also get rid of our basic wonderfulness. We can lead our life so as to become more awake to who we are and what we’re doing rather than trying to improve or change or get rid of who we are or what we’re doing. The key is to wake up, to become more alert, more inquisitive and curious about ourselves.
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.
The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.
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.
The sequestration is a bad idea, all around. It is something that is out of the question. If you have spending cuts, education of our children, other investments, on the National Institutes of Health, where you are hindering growth, you're no going to reduce the deficit.
Our tax code is arcane, burdensome and unwieldy. In the years since Ronald Reagan's 1986 Tax Reform Act, the code has gone from fewer than 30,000 pages to more than 70,000.
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 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.
I think that taxes would be fair if we first get rid of the tax code. This is the ultimate solution, not to just say we're going to trim around the edges, not to say that we will try to simplify a little of this and a little of that. The problem is, replace the tax code, so we can establish tax fairness for everybody.
Trying to cut the deficit too far, too fast isn't working. The government must adopt a steadier, more balanced plan to get our deficit down and take immediate action now to support the economy and create jobs here in Britain.
When we`re done simplifying the tax code, getting the lobbyist carve outs our of the tax code, lowering our rates and letting people have a simple system, most Americans will be able to fill out their taxes on a postcard.
It's much more powerful to say I'm working to reduce spending, deal with our nation's deficit, push back on the federal government, and give specifics for that rather than just say, 'I'm a conservative.'
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