Republican candidate John McCain says if he’s elected president, he’ll appoint a new commission to come up with a new U.S. tax code. McCain would have someone like former Federal Reserve chief Alan Greenspan head the group and he would fashion the commission like the military base closure commission, which forbid any tinkering from congress as the House and Senate were only allowed to accept or reject that commission’s recommendations.
Americans are "sick and tired" of the tax code, according to McCain. Some Republicans, like western Iowa Congressman Steve King, back the idea of junking the income tax and imposing a national sales tax instead. Others, like former G-O-P presidential candidate Steve Forbes, advocate a "flat-tax" on income to simplify the tax code.
"I would sign either one if it came across my desk, but I don’t think either one are the entire solution," McCain says. According to McCain, that’s why you need a person of stature, like Greenspan, to head up a commission and come up with a new system.
McCain says it’s time to do something to simplify the system. "Americans paid $140 billion last year for preparation of their tax returns. Six out of every 10 Americans had to have to have somebody else do," McCain says. "I mean, it’s remarkable if you think about it."
McCain made his comments during taping of the Iowa Public Television program "Iowa Press" which airs Friday. McCain has been campaigning in Iowa today. Tomorrow he intends to unveil his ideas for health care reform.