Charlie Munger Quotes

That’s why the tax code is so long [76,000 pages]. So we can take advantage of it.

A Tax Loophole: A deduction that the other guy gets.

I don't blame anybody for using the tax code to their advantage.

There is spending in the tax code.

The money is with people who have taken advantage of every single break in the tax code.

The avoidance of taxes is the only intellectual pursuit that still carries any reward.

Tax expenditures for middle- and working-class Americans - like the earned income tax credit - aren't thought of as loopholes; they're just thought of as benefits.

There are some tax expenditures that are there for very obvious and very important and very good policy reasons. Whether it's the charitable deduction or the deduction for homes, it's not a loophole.

There's always another loophole to get out of the tax code.

Here's the problem with the tax code. You send your money to Washington and then a few have a special carve out for your business, for your industry, if you do something Washington approves of, then they'll let you keep some of your money back.

As a beneficiary of the carried interest loophole, I've seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.

We need a tax code that promotes savings, investment, achievement, innovation, and hard work.

The bottom line is we need a tax code that is more simpler, that is more fairer, that gets rid of the special carve-outs, the special lobbyist loopholes. That's the direction we need to go.

I think we can have some tax reform, but that doesn't mean tax increases. We ought to make the, the rates flatter. We ought to get rid of a bunch of those loopholes.

Everyone now has a sacred cow in the tax code. For my money, the most sacred thing of all is our country and its growth, but the sacred cows have turned into a pack of wolves.

A one-time tax does not get figured into people's investment decisions.

What I want to do is make certain that no one's taxes go up. Let's look at cleaning up the tax code.

As American taxpayers know too well, the tax code is incredibly complex and compliance is all to expensive.

We're going to look awfully stupid if we give income tax relief to people who do not pay income taxes.

The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax.

That's the biggest problem, is the tax code itself.

Businesses large and small shouldn't have to check the expiration date of a tax provision to see if it's still good.

I have no tax breaks or corporate interests to be supported by Barack Obama.

Everybody gets ticked off about GE paying no taxes. Look, we have a complicated, convoluted tax system. And only big corporations and wealthy individuals like Warren Buffett can take advantage of it. We need to simplify and flatten the code, get rid of all the loopholes.

The tax code can be used to eliminate the toll booths on the information superhighway.