The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics.
Elections have to have at least a little meaning. Obama ran on income tax hikes for the wealthy. People knew they were voting for that. They 'want' that. And it's good policy.
In the European context tax rates are high and government expenditure is focused on current expenditure. A 'good' consolidation is one where taxes are lower and the lower government expenditure is on infrastructures and other investments.
Subsidies and mandates are just two of the privileges that government can bestow on politically connected friends. Others include grants, loans, tax credits, favorable regulations, bailouts, loan guarantees, targeted tax breaks and no-bid contracts.
Why is it that half of the households in America pay zero income tax? We need some real tax reform.
I have continuously said that, at the very minimum, the Bush tax cuts for income under $250,000 should be extended.
Tax reductions are usually simpler and less distortive. I'm certainly willing to look at getting rid of tax deductions/credits, and go to dramatically reduced rates.
The real problem in Greece is not cutting taxes, it's making sure that we don't have tax evasion.
Effective tax credits are used to create jobs and grow our economy. But tax credits that aren't delivering for Missourians must be retooled and reformed.
By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.
We're going to look awfully stupid if we give income tax relief to people who do not pay income taxes.
It's not coincidence that the U.S. is in last place in the world in terms of corporate tax rate. It's because our system is set up to block tax reform.
Americans spend much of their adult lives paying taxes in various forms. We should end this practice of paying a tax that is triggered only by debt.
American businesses and upper incomes pay a larger portion of the federal taxes of our national taxes than any country in the world.
Congress has changed the Social Security system over time, and over 20 times in the past Congress has raised taxes on Social Security in payroll taxes into the system.
As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax.
If, if more stimulus means more tax cuts to small businesses, if, if more stimulus means middle class tax cuts, then I'm for it.
A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues.
I would like to electrocute everyone who uses the word 'fair' in connection with income tax policies.
I don't believe, the president doesn't believe, that the high income tax cuts work, period. I don't think the evidence supports that.
Don't hang your hat higher than you can reach.
