Political Quotes

“I thank the gentleman. He is a man worthy of honor and worthy of spending the moment to be able to stop and discuss. Back on tax policy--which seems a mundane topic now compared to George Beverly Shea and all that he has done for our Nation and the world--did you know that under our current system if you own a guard dog to protect your business or if you hold a business convention in Bermuda or pay for your child's clarinet lessons so that it will help with their overbite, you can deduct those expenses from our income tax? There is something morally and culturally wrong with a government that enables its citizens to deduct their gambling losses but punishes the same person by taxing the interest that they have on savings in the bank. Why would we as a Nation deduct gambling losses and tax interest savings from the bank? Shouldn't we encourage saving and maybe discourage, or at least be neutral, for gambling losses? That's the nature of this code. There's a section even in this code that specifically outlines that if you're a drug trafficker or drug dealer, you can't deduct your expenses from drug trafficking. That's what our code has become. We've got to find a way to be able to simplify the code and to make it a fair, straightforward code that deals with the issues and takes away the absurdity that's in our code. Let me give you another example. We have a tax system dealing with internal taxes.…”