Over the years, the tax code has become a vehicle for political favoritism and social engineering.

Why do we fully tax some kinds of income from capital, like interest and dividends; partially tax other kinds like capital gains; defer tax on other kinds, like IRAs; and impose no tax at all on still other types of capital income, like interest on municipal bonds? This simply is not rational. These distinctions don't have any inherent logic.

Democrats must rally behind a low-rate, broad-based tax system that is fair, simple and efficient.

Bill Bradley Quotes