Political Quotes

“Today is the deadline for filing tax returns. Even though we were given 2 extra days this year, we are running out of time for the Tax Code. The tax system doesn't generate enough money for what America needs and spends today. It's getting more expensive every year to continue the huge array of tax breaks even as the code itself becomes more unfair, complex, and inefficient. It costs over $160 billion a year for Americans just to comply with the Tax Code. The path forward should be simple. First, we should stop making the code more complex, which, sadly, the Republican plan working its way forward will do with $50 billion of additional unfocused tax breaks. At least if we're going to borrow another $50 billion from the Chinese, we should use it to fund job-creating infrastructure. For instance, that $50 billion would enable us to fund a multiyear transportation reauthorization. We should also repeal the pernicious alternative minimum tax. It was once designed as a tax on very rich people who didn't pay taxes. Today, no billionaire hedge fund manager pays the alternative minimum tax. Instead, it falls on upper middle-income families, especially those who pay a lot of taxes. Every year we find some creative way to avoid the consequence of it not being indexed for inflation. Every year we find some way to have a fix, to have a patch to avoid the alternative minimum tax's full impact.…”