Mark Warner: We Don’t Have Enough Tax Revenue So We Need a New Tax Like a Carbon Tax
WARNER: "I think we have to do tax reform. The world has changed. We have the highest nominal tax rate on the business side in the world. Yet out of the 34 industrial nations in the world, we’re 31st in terms of total tax revenue. So we have the most complicated system, yet we are at the bottom in terms of collecting enough revenues. I think we’re going to have to look at a new revenue source, like a carbon tax. People are going to get to the kind of rates we need for businesses to stay competitive in the world. I think, again, particularly from the business community side, a real opening to that. So whether — where president Clinton will come down on that, that will be part of the debate coming forward. What I would hope we wouldn’t do with that kind of lineup is to immediately simply bring out bills that have already been litigated, where people have already had votes and expect just because we’ve got I think a majority in the Senate, a new President Clinton, you know, to simply think that’s going to change people’s position if we don’t change the narrative."