Key senator: Revenue increase from tax reform is OK
Republican Sen. Tom Coburn said he could accept a plan that would raise taxes to cut the deficit.
April 25th, 2011
08:31 AM ET
3 years ago

Key senator: Revenue increase from tax reform is OK

Washington (CNN) - A leading Senate conservative said Sunday he can accept tax reform that increases overall tax revenue as part of a comprehensive deficit reduction plan.

Republican Sen. Tom Coburn of Oklahoma told the NBC program "Meet the Press" that if lowering tax rates and eliminating loopholes and deductions ended up bringing in more money to the U.S. government, "that would be fine with me."
FULL STORY


Filed under: Tom Coburn
soundoff (11 Responses)
  1. Steve Lyons

    Here's a RINO. He must go. The TEA Party needs to boot this tool.

    Seriously he just doesn't get the fact that we are over spent, not over taxed.

    ANY candidate advocating a tax hike should be uncermoniously fired.

    April 25, 2011 09:09 am at 9:09 am |
  2. GI Joe

    With the threat of prosecuting speculators looming, gasoline prices have dropped in NC from $3.85 to $3.65 in ONE WEEK.

    Wall street (buddies of all the republicans) is running this country.

    VOTE THE REPUBLICANS OUT – THEY EMPOWER WALL STREET (because that's where they get their campaign financing).

    April 25, 2011 09:12 am at 9:12 am |
  3. diridi

    how about rising tax who make more than 250k or more, and getting back troops that were sent to Afgan, and Iraq...and nabbing all oil companies, giving incentives to Natural gas, green energy, fuel efficiency, and public transportation, and nabbing oil speculators, education concentration, strict immigration etc.,?????????these we need...GOP is idiotic....shame on GOP....

    April 25, 2011 09:18 am at 9:18 am |
  4. GonzoinHouston

    We are 10 years into an economic experiment, and the results are obvious:
    Hypotheses:
    1) cutting taxes causes the economy to grow enough that the lost tax revenues are made up at the lower rate (sometimes called "stimulate the economy")
    2) cutting taxes will cause Congress and the President to reduce federal spending to accommodate the lower revenues. (sometimes called "starve the beast")

    After 10 years with both parties in various degrees of power the results have proven conclusively that neither of these hypotheses are true.

    Current federal tax rates are the lowest they have been in over 50 years. In the past decade or so, the middle class has seen little to no improvement in net worth while the richest 2% have seen their average net worth triple.

    We need to increase taxes on the top 5% of earners. When unemployment falls below 6% we can shift some of the tax burden back to the middle class.

    April 25, 2011 09:27 am at 9:27 am |
  5. Rudy NYC

    Sen. Coburn, what if "lowering tax rates and blah-blah" does not increase revenue? Which it won't. Are you acknowledging that there is a revenue-oriented approach is going to have to be part of a comprehensive solution to US budget problems?

    I believe that you and/or your Senate colleagues have suggested that we back to 2008 spending levels. I am not sure of the exact year because a couple of them have been tossed out there. I believe the point was to roll back the budget to pre-Obama spending levels. How about rolling back spending to pre-Bush Budget levels? How about year 1999 or 2000?

    April 25, 2011 09:27 am at 9:27 am |
  6. gt

    coburn is one of a very few senators wiill tell the truth...

    April 25, 2011 09:36 am at 9:36 am |
  7. Rudy NYC

    I know people hate to hear the facts, but here are the facts. I will be denounced as Bush bashing, but they still cannot dispute the facts.

    1. George W. Bush came into office with a budget surplus.
    2. Bush started a war in Afghanistan.
    3. We saw a recession in 2001-02 due to over adjustments at the Federal Reserve. ("irrational exuberance anyone")
    4. Bush implemented tax cuts to stimulate the economy.
    5. Bush started a 2nd war and then implemented the now famous "Bush Tax Cuts"
    6. Bush's economic advisor pointed out the U.S. was on the path to $1T deficits. They fired him.
    7. Remarking about the firing of the economic advisor, Cheny said, "Deficits don't matter."
    8. Bush is the first president to start a war and not raise taxes to pay for it. He started two wars.
    9. The final budget year of the Bush presidency, 08-09, saw a deficit of $1.4T, which includes TARP.
    10. Oh yeah, I forgot to mention the explosion in Medicare drug costs with Bush's changes, Medicare Plan B

    April 25, 2011 09:43 am at 9:43 am |
  8. shadysider

    If you are unable to admit that tax revenue must rise (at least in the short term) to reduce the deficit, then you are not serious when talking about the economy. Good for you, Coburn.

    April 25, 2011 09:48 am at 9:48 am |
  9. Rick McDaniel

    Lowering tax rates, is stupid, and he knows it.

    April 25, 2011 09:50 am at 9:50 am |
  10. Rudy NYC

    Senator, you are not serious. You cannot be serious if you begin sentences with the words "lowering tax rates..." Washington has a revenue problem due to Bush's wars, Bush's Medicare prescription drug program, and Bush's tax cuts.

    The U.S. economy has been bushwacked. We all can see it, even you and your political colleagues, Mr. Senator. Why can't the GOTP admit it? You can't because it is against party rules.

    April 25, 2011 09:56 am at 9:56 am |
  11. rusty155

    i don't care how much the GOVERNMENT spend , It could be a Trillions Dollar or five Hundred dollar with out money coming Into the GOVERNMENT there will all way be a deficit. You have to have money coming In to the GOVERNMENT to get the Deficit down. Take Your bill you have at home you can cut and cut thing ,but If you don't have a pay check coming In every week. Sooner are later you will run out of money. It just like the Government except they have bigger bill, Yes they can cut some thing, but sooner than later without money coming In the Government will run out of Money. That why we have to rise tax on someone If not on all of us. Yes the Government can stop spending so must and you can Cut something, But that you can't turn right around and give the RICH a tax cut,because the money that you are saving on the cut , you are just really giving it right back to pay for the Tax cut on the Rich so really you are not doing anything to bring the Deficit down. So all you are really are doing Is Hurting the Poor and the Old. Paul Ryan Plan won't work accept for the Rich ,that all the help It going to do Is Help the Rich get Richer. You can cut Government spending with out Hurting anybody are anyone, but you are going to have to rise taxes on the Rich and Big business, Or on everyone because you have to have money coming Into the Government to get the deficit down. American people pay taxes but Big Business don't know how fair Is this. GE no taxes at all, and I bet you they are a lot more. The BUSH tax cuts be In place now for SIX YEARS, they were put In place to bring In more JOBS ,they say If the Rich didn't pay as much on taxes they would be more JOBS. So were are they JOBS, after SIX YEARS even I know the BUSH TAX CUTS DON"T WORK SO WHY DOES THE REPUBLICAN WANT TO KEEP THEM. TO MAKE THE RICH EVEN RICHER.

    April 25, 2011 10:00 am at 10:00 am |