Clyburn Statement On Joint Select Committee Hearing On Revenue Options And Tax Reform

Sep 22, 2011 Issues: Spending Cuts and Debt

WASHINGTON, DC—Assistant Democratic Leader James E. Clyburn, who serves on the Joint Select Committee on Deficit Reduction, today released the following statement on today’s hearing on revenue options and reforming the tax code.  Thomas Barthold, Chief of Staff of the Joint Committee on Taxation, served as the hearing’s sole witness.

“I believe the overarching mission of this committee is to find common ground. Recently, the House Republicans released a document in which they said the tax code ‘has grown too complicated and cumbersome and is fundamentally unfair.’ I could not agree more with that assessment. I think it’s unfair that wages often are taxed at a higher rate than investment income. I think it’s unfair that the wealthiest among us get the most tax breaks, and I think it’s unfair that some top corporations pay more to their CEOs than they do in taxes.

“My belief is that our tax code should reflect what we value as a society. The current system says we value wealth more than we value work. That is fundamentally unfair. We want to put people back to work so they can pay their fair share in taxes and enjoy the dignity of earning a paycheck, but we must demonstrate that those who passively receive income from their investments are not valued more than most Americans, who earn their income through hard work.

“Any change in our tax code must ensure that all Americans pay their fair share and that the burden is not disproportionately felt by those who can least afford it.”