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Warner: ‘I Agree We Need Tax Reform; We’ve Got a Way Too Complicated System’

• September 28, 2017 2:03 pm

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Democratic Sen. Mark Warner (Va.) said Thursday on MSNBC that America needs tax reform, arguing the current tax system is "way too complicated."

Host Andrea Mitchell noted Warner's past business experience before asking for his thoughts on the current debate over tax reform.

"Because you were a leading businessman, you were governor, you know about this stuff. The president claiming—and we're going to be talking about the tax proposals—claiming they are helping middle-class people, that it's aimed at the working class, the middle class, it's not gonna help the rich people like him," Mitchell said to Warner. "That broad claim from the White House and Republican leaders, what say you?"

Warner first said that tax reform is necessary before criticizing the Trump administration's plan.

"Well, Andrea, first of all, I agree we need tax reform. We've got a way too complicated system," Warner said. "Yet, out of the 34 industrial nations, our total overall revenue generated, we fall 31st out of 34. So we don't collect enough revenue, but we have a very complicated system."

Warner then said that despite the country's need for tax reform, he does not believe President Donald Trump's plan is the answer.

"Unfortunately, what the president's laid out is a plan that would very much disproportionately benefit those at the top and not give the right, I believe, incentives for businesses and others, for example, to do additional training for low and moderate income people," Warner said.

Warner noted the nation's $20 trillion debt, which he said "both parties have been guilty" of causing.

"And if we add trillions in additional debt based on this tax cut plan, that is going to suppress economic growth, because just the interest on that debt will squeeze out other governmental investments," Warner said.