Paul Ryan: We Have One of the Worst Tax Systems in the Industrialized World

EXCERPT:

RYAN: "I obviously think border adjustment is a smart way to go. I think it makes the tax code the most internationally competitive of -- of any other version we're looking at. And I think it removes all tax incentives for a firm to move overseas or to move their production overseas. But if -- if you’re not going to do border adjustment, then you have to look at the alternatives to that. There’s always upsides and downsides to alternatives. That's the process we are going through right now. We are going through the process of looking at what is the best way to reform the tax code and to lower tax rates for businesses and to make the American tax system internationally competitive. Right now, iit is literally one of the worst tax systems in the industrialized world."