On the recordFebruary 8, 2011
I think there would be a lot of agreement that our tax code is very complex, and is not conducive to the most productive activities in many cases.
Source
congress.govI think there would be a lot of agreement that our tax code is very complex, and is not conducive to the most productive activities in many cases.
Bernanke acknowledges the complexity of the tax code as a barrier to productive investment.
Share & report
More from Ben Bernanke
I have--you know, it is easy to criticize, but the politics is very difficult.
I would very much like to have the confidence that we could close down a large institution without causing damage to the rest of the economy.
If it doesn't achieve the objective of eliminating too-big-to-fail, I think we ought to come back and decide or ask Congress whether they might take additional steps.
A significant portion of this effect is related to the automatic spending sequestration that is scheduled to begin on March 1st.