Political Quotes

“we have a tax system that is needlessly complicated and burdensome to the middle class. It is time for fundamental tax reform that reflects the values and the interests of all Americans, not the special interests. When President Bush announced his tax reform commission, he said his core principle was that it should not hurt government revenues. Democrats believe that the core principle of tax reform is that tax reform should help the middle class achieve their goals. Tax reform is about the middle class and economic growth, not about government revenue. In the last 4 years the Tax Code has been filled with special breaks for special interests. At the same time, the tax burdens have shifted from the wealthy to those who work, from dividend to wages. What should we do? Combine the five educational tax breaks to one tax break for higher education for $3,000 for everybody going to college; unify the various child credits and earned income tax credit to a single simplified tax family credit; simplify the 16 different versions of the Tax Code for savings to one universal 401(k) pension; and, finally, encourage homeownership. We should create a universal mortgage deduction for all taxpayers. Mr. Speaker, we need a tax system that reflects the American values and fosters the American Dream, not the current system written by and for the special interests. ____________________”