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Sheldon Whitehouse on Tax Reform

Democratic Jr Senator, previously attorney general

 


Tax code is broken, but flat tax is a lousy idea

When it came to taxes, both men agreed the Country's tax code was broken. However, they differed on how to go about fixing it. "Our tax system is a nightmare right now. CVS pays a full 35 percent tax rate. But, companies like Carnival Cruises pay zero. It makes no sense," Whitehouse said. "We need a fairer and simpler tax code, but it can't put more of a burden on the middle class."

When asked about the 9-9-9 plan proposed by former presidential candidate Herman Cain, Hinckley said at least it's a new idea. "Our current tax code is four million words long. We need a new tax code to compete in the 21st century," Hinckley said. "We need lower rates for families, lower rates for businesses."

Whitehouse said Cain's plan, which called for nine percent income tax, nine percent capital gains tax and nine percent sales tax, would shift the tax burden to the middle class. "It's not a fresh idea, it's a lousy idea," Whitehouse said.

Source: WPRI Eyewitness News on 2012 R.I. Senate debate , Oct 23, 2012

$2T in new revenues, and $2T in cuts, to balance budget

Whitehouse slammed the debt reduction plan proposed in the House by Vice Presidential candidate, Rep. Paul Ryan. "The Ryan budget is disastrous," said Whitehouse, who maintained it balanced the budget on the backs of middle-class Americans, while shielding the rich. When asked what measures he would support, Whitehouse said eliminating $4 trillion over the next 10 years; with $2 trillion in cuts and $2 trillion in revenues, or tax increases. "Republicans have not identified one single loophole in the tax code they would get rid of," Whitehouse said.

Hinckley then criticized Whitehouse for being partisan. "How do you come to the middle when you vote with your leadership 96% of the time. If you don't like it, mark it up and send it back. This is an all-hands-on-deck situation." Hinckley then criticized the Bush and Obama administrations, calling them both "train wrecks." "My children are going to have to pay this back," he said.

Source: WPRI Eyewitness News on 2012 R.I. Senate debate , Oct 23, 2012

Bush tax cuts are improvident & unfair--repeal them

Q: What is your stand on tax-cuts?

A: The Bush administration has pushed very hard for tax cuts, and they got them done. What we've seen is that they've been both improvident from a fiscal point of view and unfair from a societal point of view. They've been improvident because they've run up our budget deficit to the highest levels ever. Middle-income Rhode Islanders [got less tax relief than] somebody making more than $200,000. It has not been fair. We need to repeal the Bush tax cuts.

Source: 2006 RI Senate debate, by RIBA and WPRI-12 , Sep 13, 2006

Roll back the tax reductions to America's wealthiest

Q: What about Democrats getting smeared as "tax and spend liberals"?

A: I support rolling back the tax reductions that went to America's wealthiest individuals. I think it's unfair that the administration seeks to reduce Social Security benefits for th

Source: ePluribusMedia.org Interview , Aug 12, 2005

Sponsored minimum tax rate of 30% for those earning over $1M.

Whitehouse sponsored Paying a Fair Share Act