Tags: Barack Obama | Economic- Crisis | Taxes | corporate | reform | code | screwy

Obama Laments 'Screwy' Tax Code

Thursday, 07 Apr 2011 01:29 PM


President Barack Obama has admitted that the U.S. tax code is something of a mess, the Washington Wire blog of the Wall Street Journal reports. The president called the current tax system “kind of screwy” on Wednesday at a town hall in Pennsylvania.

Obama, tax code, screwy, lamentsTalking up a proposal to revamp business taxes, Obama said he wants to “lower the rate for corporations,” which is one of the highest in the world, “but eliminate a bunch of the loopholes so that everybody is paying the same and it’s fair.”

Corporate taxes have become a hot-button issue since revelations that General Electric paid no federal federal income taxes in 2010 and even got a refund. GE has said it expects its tax bill to be higher in 2011.


© 2015 Newsmax. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved