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U.S. markets recover from steep losses
DETROIT, Nov. 29 (UPI) -- Rep. Mike Pence, R-Ind., said in a speech in Detroit Monday the U.S. tax system smacks of socialism and should be simplified to a flat tax.
"The time has come for Congress and this administration to take bold action to simplify our tax system and lower people's taxes. The best option, the most pro-growth option, is a flat tax. I believe it is time that America adopted a flat tax and scrapped the current system once and for all," The Hill newspaper quoted Pence as saying.
Pence, chairman of the House Republican Conference, made his remarks during a speech at the Detroit Economic Club.
Pence, who has said the George W. Bush-era tax cuts should be made permanent, said the seeds of his flat tax concept were planted during a trip abroad.
"I saw the difference between East and West, between a free-market economy and a planned economy run by the state. Freedom and personal responsibility contrasted with socialism and decline," he said.
"The problem with our economy today is that, after years of runaway spending and growth of government under both parties, America is on that wall between West and East … I choose the West," he said.
"We should remember what Ronald Reagan said -- 'No government ever voluntarily reduces itself in size.'"
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