Summers Says It's 'Right' to Consider Tax Code Reform

The transcript discusses the need for a comprehensive review of the tax code, highlighting the positive impulse for tax reform due to existing loopholes and shelters. It acknowledges the necessity of lowering the US corporate tax rate and expanding the child care credit. However, it criticizes the current tax cutting measures as indiscriminate and non-strategic, potentially increasing unfairness and not significantly benefiting economic growth.

What is the speaker's initial stance on the tax code?

• The tax code is perfect as it is.

• The tax code is irrelevant to economic growth.

• The tax code needs comprehensive consideration.

• The tax code should be ignored.

Why does the speaker support lowering the US corporate tax rate?

• Because it has no impact on the economy.

• Because it is the same as the rest of the world.

• Because it is higher than the rest of the world.

• Because it is lower than the rest of the world.

Which adjustment does the speaker view positively?

• Reduction in healthcare benefits.

• Elimination of student loan interest deduction.

• Expansion of the child care credit.

• Increase in personal income tax.

What is the speaker's main criticism of the tax bill?

• It provides too many benefits to the future.

• It focuses too much on strategic planning.

• It significantly boosts economic growth.

• It is more about tax cutting than reform.

According to the speaker, what is a potential consequence of the tax bill?

• Significant reduction in corporate profits.

• Increased fairness in the tax system.

• Cheating the future and limited economic growth.

• Enhanced public trust in the government.