The foundation of a strong economy is one built on fairness, opportunity for all and a healthy middle class. I believe strongly that everyone should play by the same rules, especially when it comes to our tax code.
But special interests that have carved up the tax code so it looks like a slice of Swiss cheese. They have created huge, unfair loopholes and subsidies while making the tax code so complicated that ordinary families and small businesses can’t even understand it and only the powerful benefit.
We need comprehensive tax reform that is fair for everyone. It’s time to put an end to policies where the wealthy pay a lower tax rate than nurses, teachers, police officers and other middle class wage earners.
I support the Buffett rule, which would ensure that those making a million dollars or more per year do not pay a lower tax rate than middle class families. Today the wealthy are paying their lowest tax rates in 50 years, which is why the Bush tax cuts for high wage earners need to expire. I will fight to eliminate the unfair loophole that allows hedge fund managers to pay a lower tax rate on their income than other professions.
These sorts of common sense reforms will help make our tax code fairer and generate billions per year to help balance the budget and rebuild America’s middle class.