Chris Edwards Tax Quotations

Both plans are much better than existing tax law. Both would be a significant simplification and would help promote economic growth.

Take AMT and extending the tax cuts into account and instead of having a 2011 deficit of just over $100bn, we are looking at deficits close to $400bn again. Extending the Bush tax cuts costs about $400bn a year as far as the eye can see. This is unfair to the next generation that will ultimately have to pay the bill.

I'm all in favor of the tax cuts, but I think that the administration has to eat their spinach along with the tax-cut candy and propose more spending cuts.

The next generation of young workers will be crushed by gigantic and rising payroll taxes to pay for all of this,

The Panel's income tax reform plan would make some positive changes such as eliminating the double-taxation of dividends and treating U.S. businesses on a territorial basis with regard to their foreign profits. Both of these changes would increase U.S. business competitiveness and spur investment. However, on both the individual and business parts of this simplified income tax, the proposed top tax rates were still too high. For example, the proposed 32 percent corporate rate would still be higher than the 28 percent average corporate tax rate in Europe.

If they repeal the AMT, they've got to replace it with higher taxes somewhere else, ... Tax reform could mean a big looming tax increase for a lot of people.

Individual income taxes are the big driver. The stock market is up and people are earning more money.

There was a growing undercurrent of discontent by fiscal conservatives kept under wraps because Bush delivered four tax cuts in four years. It had been a unifying theme. That is over now because of the gigantic deficits.

While tax authorities have increased surveillance and regulation in a bid to stem the flow of investment capital and profits to low-tax jurisdictions, it's easier to shift money around than it used to be thanks to technology. Both legal avoidance and illegal evasion techniques have become more accessible.