State of Delaware secondary Archives: on Tax Reform


Tom Carper: Broaden the base of taxable income by removing deductions

Wade said that Congress must act to remove deductions and loopholes to simplify the tax code. He said that General Electric was able to avoid paying any federal income taxes two years ago by deploying special interest tax loopholes.

"We have loopholes everywhere but not loopholes for 'We, the people,' " Wade said. "We need to overhaul the tax code, which is 60,000 pages of nonsense, and remove it as an obstacle." Wade said his experience as a business owner would be an asset in the Senate. Carper also said he would support lowering tax rates across the board and broadening the base of taxable income by removing deductions. The plan is similar to others offered by President Barack Obama's deficit reduction commission and Republican presiden

Source: Delmarva Daily Times on 2012 Del. Senate debate Oct 17, 2012

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