A Quote by Sheldon Whitehouse
Closing tax loopholes has to be part of the revenue equation.
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The Democrats and Republicans need to come together. I've criticized Democrats for their unwillingness to address entitlement reform and Social Security and Medicare. Republicans, on the other hand, never saw a tax that they liked, even when it meant closing tax loopholes. They don't want to in any way support any revenue enhancements.
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.
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.
The key to revenue growth is tax reform that closes loopholes and that is pro-growth. Then with a growing economy, that's where your revenue growth comes in, not from higher taxes.
Broaden the tax base, close loopholes and flatten the tax rates - all of which would bring more revenue stability and certitude to projections as well as make filing a comparable breeze.
I want to end tax dumping. States that have a common currency should not be engaged in tax competition. We need a minimum tax rate and a European finance minister, who would be responsible for closing the tax loopholes and getting rid of the tax havens inside and outside the EU. It is also clear that we have to reach common standards in our economic and labor policies. We cannot continue to just talk about technical details. We have to inspire enthusiasm in Germany for Europe.
Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.
The Democrats are obsessing about raising tax rates, while the GOP talks about closing loopholes.
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.
The whole tax code should be looked at, all the way from farm subsidies to carried interest to - to corporate loopholes, because we really need to raise more revenue.
Any reduction in the corporate tax rate must also come with closing loopholes that have allowed the largest businesses in our country to pay less than they owe.
My goal in getting rid of tax loopholes is not to raise taxes. Our problem in Washington, D.C. is not a revenue problem, it is a spending problem.
We've got an extraordinarily complex tax system that's full of loopholes that are exploited by special interests. I'd like to see those loopholes closed.
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.
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.
Using static scoring, tax cuts are broadly assumed to 'cost' a raw amount of reduced revenue. With dynamic scoring, the new revenue likely to flow from increased economic activity produced by a tax cut is considered, improving the accuracy of the projection.
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