Political Quotes

“The gentleman has mentioned a couple of things that are important to recreating a vibrant economy and to taking the shackles off of American business, and tax policy is high on the list. The fact that we could have an estate tax that is much smaller in terms of its impact on a family, and the American people would accept that is in fact the case. I hear it over and over in this country. We have also heard that it would be helpful in terms of American competitiveness for us to reduce our corporate tax so we are more globally competitive. Among the provisions that anyone can read about is in americanroadmap.org, and that is the proposal to create a flat income tax. That would be a rate, such as 10 or 11 percent, that you would pay on all of your income, regardless of source, regardless of whether it's active or passive, whether it is capital or income from a job, whether it is rental income, royalty income, or, again, active income. All sources of income would be taxed at 10 or 11 percent. So you take all your income annually times 10 percent or 11 percent. Maybe you have a deduction of $20,000, so your first $20,000 worth of income isn't taxed. And then whatever that amounts to, you just write a check and send it in to the IRS. You don't need to have CPAs help you fill out your tax returns. And I can tell you, if we did that, it would save the American people a lot of money.…”