We do a terrible job social and economically engineering through the tax code. So, stop doing it.
It's way too complex, right? So, when you have something really complex, that's something that can be taken advantage of...
We just put this chart up here. This is what Senator Grassley was talking about. I mean, this is the futility of trying ...
Let's simplify this thing. Let's rationalize this. That's what I'm going to try to push for in the next couple of years.
Use the tax code to collect the revenue the government needs as simply and fairly as possible.
I call it a true Warren Buffett tax. Tax all business income at the ownership level.
One principle that we should abide by is wherewithal to pay. So, trying to tax unrealizable capital gains would be disas...