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Obama Asks Volcker to Lead Panel on Tax-Code Overhaul (Update4)
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By Roger Runningen and Ryan J. Donmoyer

March 25 (Bloomberg) -- President Barack Obama is putting former Federal Reserve Chairman Paul Volcker in charge of a tax-code review aimed at closing loopholes, streamlining the law and generating revenue, budget Director Peter Orszag said.

Volcker, 81, who heads the president’s Economic Recovery Advisory Board, is being asked to take a look at the laws in an effort to rebalance the tax system.

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you see if we make taxes 80 % on people over a million or so that would end that and put the money back into the peoples hands over here, if you make 20 ooo bucks or something you ought to get another 20 back from the rich, if you make 10 000 then you should get 30 back so that everyone has enough plus all the property taxes shpuld be paid by the rich too not the seniors

Historically it doesn't work sal!

How about a nice simple flat tax and do away with the IRS and save some money.

Quoted from 191

you see if we make taxes 80 % on people over a million or so that would end that and put the money back into the peoples hands over here, if you make 20 ooo bucks or something you ought to get another 20 back from the rich, if you make 10 000 then you should get 30 back so that everyone has enough plus all the property taxes shpuld be paid by the rich too not the seniors

You must think your white horse is HUGE.....oh Robin Hood, Robin Hood.......(faint).....

Shadow, I like that idea, simple.  With a minor change, something where multimillionaires pay a bit higher percent.

also, I'd like to see higher corporate taxes on the companies, and their CEO's and boards who eliminate jobs here in the USA and have their manufacturing done in foreign countries (unless it is a specialtiy item unique to certain countries), and higher taxes on the retailers who sell the stuff.  Then these higher taxes will be the various government assistance programs to people who get sick from the foreign stuff and the benefits for the lowly paid employees

Quoted from mikechristine1

Shadow, I like that idea, simple.  With a minor change, something where multimillionaires pay a bit higher percent.

also, I'd like to see higher corporate taxes on the companies, and their CEO's and boards who eliminate jobs here in the USA and have their manufacturing done in foreign countries (unless it is a specialtiy item unique to certain countries), and higher taxes on the retailers who sell the stuff.  Then these higher taxes will be the various government assistance programs to people who get sick from the foreign stuff and the benefits for the lowly paid employees

I agree with you in part. The minor change where multimillonairs you suggest to pay more taxes is the part I disagree with. The word 'corporation' does not always mean BIG BUSINESS. There are many smaller corporations, that we have in our own community, that are honest, risk taking, hard working, usa working people. Some don't even own a corporation that would warrant out-sourcing. They provide decent paying jobs with benefits. They aren't ALL greedy!

Now I would agree with increasing taxes on the corps that DO outsource jobs out of the country.However, I don't agree with another tax paid government program to pay for illnesses due to unsafe products from foreign countries. We clearly do not need another government program that benefits the 'few'. I say let the parties effected by an unsafe product sue the company and let the company pay their attorney fees.