Sun Feb 3, 2013, 05:34 PM
DonViejo (24,155 posts)
Obama seeks closed loopholes, ‘smart’ reductions
WASHINGTON (AP) — President Barack Obama says the U.S can reduce its budget deficit by closing tax loopholes and making “smart” reductions in spending.
Obama says closing tax loopholes should enable the U.S. to “continue to fund things that can help us grow” without raising tax rates again.
In an interview on CBS a few hours before the Super Bowl, the president said he wants the tax system to be “fair and transparent,” noting that the average taxpayer can’t take advantage of things like offshore tax havens.
Obama also called for further health care reforms, noting the U.S. spends “more than every other country does.” He says there’s “no doubt we need additional revenue coupled with smart spending reductions.”
Read more: http://www.salon.com/2013/02/03/obama_seeks_closed_loopholes_smart_reductions/
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Obama seeks closed loopholes, ‘smart’ reductions (Original post)
Response to DonViejo (Original post)
Sun Feb 3, 2013, 06:46 PM
bucolic_frolic (5,102 posts)
3. Have they ever simplified the tax code at all?
seems to me every year it's more lines, more forms, more calculations
Is he going to eliminate trust funds?
A fair tax system should be simple, progressive, and not require $800
of CPA time for working people.
The current tax code is just the codified discussions of Congress.
Make all the Congressmen fill out their own tax forms.
Then they might tackle the problem.