Appearing on CNN’s State of the Union on Sunday, Treasury Secretary Jack Lew threatened new taxes designed to extract cash from the American people. “Just to like be clear on taxes,” he said, “yes, I think we have some areas of emerging, not consensus, convergence of views. I think there’s a broad sense that the tax code is too complex, that it should be simplified.”
Lew said the difference between Republican and Democratic positions on taxes was that Democrats want to reduce the deficit, while Republicans want to cut tax rates. “There is a bit of a gap between Democrats and Republicans where Democrats want to take the process of tax reform and use some of the benefits to both lower rates and to reduce the deficit so that the pressure doesn’t come on all these other things that are really important for our future. Republicans would like to use all of the proceeds to reduce tax rates,” he said.
COMMENTS
Please let us know if you're having issues with commenting.