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Entries in tax code (1)

Tuesday
Nov292011

Republican Suggests Obama Wanted Super Committee To Fail

Rep. Bill Huizenga (R- Mich.) accused the Obama administration Tuesday of intentionally benefitting from the Super Committee’s failure.

“It appears from the outside that they [Obama’s administration] made a calculated political move,” Huizenga told TRNS about the Super Committee’s failure. “They didn’t do much to help that process along and if there was a real desire to help that, the President could have and should have gotten engaged.”

Due to the Super Committee’s failure to reach a deficit reduction deal by Thanksgiving, there will be $1.2 billion in mandatory cuts in government spending beginning in 2013. Around $600 billion will be cut from defense and the rest will be deducted from domestic spending.

“We are going down a dangerous road here,” Huizenga remarked to TRNS.”The thing we need to do to revive this is revive our economy so people will come off of assistance and pay more in taxes.”

In regards to Obama’s proposed payroll tax extension, Huizenga stated that a reformed permanent tax code needs to be instated.

“We are continuing to do economic and tax policy piece meal - a little bit here and a little bit there. We aren’t doing comprehensive reform,” Huizenga said. “If were going to do it, it makes more sense to have permanent tax policy rather than temporary after temporary after temporary tax policy.”

Huizenga mentioned that an ideal tax code would be a flat tax that would eliminate loopholes and tax credits.