Iowa Public Television

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  Program: Iowa Press #3506
  Broadcast Date: Oct. 12, 2007
  

• Collection: Iowa Press: The Presidential Candidates

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Sen. John McCain says he'd like to see the U.S. taxes made simpler and more fair.

This interview took place on October 12, 2007, at Iowa Public Television.

www.iptv.org/campaign08

Henderson: There's at least one congressman in Iowa and several members of the Iowa Republican Party who favor a fair tax, which would be a consumption tax, a sales tax to replace the income tax. There are others who have advocated, in the past, a flat tax. What would you do to fix the federal income tax code?

McCain: Americans paid $140 billion last year for preparation in their tax returns. Six out of every ten American s had to have somebody else do it. It's remarkable when you think about it. I don't -- I would sign either one if it came across my desk, but I don't think either one of them are the entire solution.

Here's what you need to do. You need to get a commission and you need to do it headed by somebody like Greenspan or somebody like that who is very credible. And all the credible economists, they report out their commission report, and Congress is required to vote yes or no.

That's the only way we ever closed the base in America was to have a commission report; by law, they vote yes or no. Every time you send it through one of these committees in Congress, the special interests prevail.

The code is that high and Americans are sick and tired of it. I understand why they want the fair tax. I understand why they want the flat taxes. We could develop a simpler, fairer tax code, I think using the best minds in America.

Tags:

• John McCain
• campaign 2008
• politics
• Republicans
• taxes
• economy

Post Date: June 4, 2008