Tax Code Overhaul Quotes

In 2013 Citigroup had profits of $6.4 billion in the United States. They paid no federal income tax and, in fact, received a rebate from the IRS of $260 million. That same year J.P. Morgan had $17.2 billion in profits in the U.S. They also paid no federal income tax. Do you think it's time for tax reform?

We will also never bring up the permanent tax cut the president is advocating.

The point being we used to have a system that wasn't as rigged in how the tax structure functioned. The president [Barack Obama] and I have been trying to get rid of some of these loopholes for some time. Look, we have to change the corporate culture.

Britain needs a simpler tax system which is simple to understand, where there are no loop-holes, where the very rich do not avoid tax by employing expensive accountants

I very much believe in reforming the tax system.

Now, do I think the tax code should be simplified? Absolutely. Will Donald Trump do away with things like this? He probably is better positioned than anyone to figure out how to do away with it, because he understands the tax code better than anyone else.

We shouldn't be debating whether to deal with the current code by allowing it to be extended or not. We should have a president who shows leadership and comes to Congress and says: 'You know what? We need to reform this whole tax code.'

Rather than passing a thousand pages of tax reform legislation and restarting the tax code manipulation process, we should change the paradigm. It is time to eliminate the IRS and repeal the 16th Amendment.

Tax reform should happen rather quickly.

As chairman of the tax-writing House Ways & Means Committee, I continue to be inspired by President Reagan's 1985 national address to the American people as he challenged them to join him in boldly reforming the broken, complex tax code.

The Internal Revenue code has ballooned to a 5,600-page, 4 million-word complicated mess that is seven times as long as the Bible with none of the good news.

Everyone wants a more simple tax system. But if this means that certain tax breaks have to be cut, people are no longer so enthusiastic.

Would it not be better to simplify the system of taxation rather than to spread it over such a variety of subjects and pass through so many new hands.

We need to enact fundamental tax reform. The weight and complexity of our 73,000-page tax code are crushing everyday Americans. We need to radically simplify the tax code so that we can re-start the real engine of growth in our economy. That means our tax code needs to go from 73,000 pages down to about three pages.

The taxing power is especially something after which the reformer's finger always itches.

Our tax plan by the way shows the vast, vast majority of Americans, upwards of 96 percent can fill out their taxes on a postcard.