A Quote by Stephen A. Schwarzman
I'm not feeling undertaxed. Tax reform is an important issue. You have to have an inherent sense of fairness.
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The tax issue is the most powerful issue in American politics going back to the Tea Party. People say, 'Oh, Grover Norquist has power.' No. Grover Norquist and Americans for Tax Reform focus on the tax issue. The tax issue is a powerful issue.
I'm in favor of doing tax reform, but I think tax reform ought to be revenue neutral as it was back during the [Ronald] Reagan years. We've resolved this issue.
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.
The move to tax Internet sales, clothed as a 'fairness' issue, is the typical 'wolf-in-sheep's-clothing' ploy so often used by governments unwilling to cut expenditures to match revenues. It matters not whether its proponents have a 'D' or an 'R' after their name. It is a tax increase in either case.
The important thing about tax reform is you make the tax code less complicated, easier for people to understand.
You have a sense that [Donald] Trump will probably reimagine where the Republican Party is on that issue and some others. But then I think conservatives may win in some areas, too - tax reform. So it's just - it's an enormously exciting time in terms of the possibilities.
The Reagan tax reform delivered real fairness, closing loopholes for Washington special interests so that all Americans could keep more of their hard-earned paychecks.
A politically astute president who understood deeply the economics and politics of corporate tax reform could conceivably muscle Congress toward a reform package that made sense. Trump is not that leader.
Tax reform means, "Don't tax you, don't tax me. Tax that fellow behind the tree."
Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'
The billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay.
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.
Have you ever noticed how statists are constantly "reforming" their own handiwork? Education reform. Health-care reform. Welfare reform. Tax reform. The very fact that they're always busy "reforming" is an implicit admission that they didn't get it right the first 50 times.
If you have a debt issue or credit card issue, start dealing with it. If you have a tax issue, don't just say, 'I'm not going to file.' There are ways to deal with these things, but you must communicate with your creditors, whether it's a credit card company or tax department.
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.
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