We need tax reform. And whether it's called Carter II or not, we can debate that issue. I think it is time to have a good step back to look at the whole tax system—the consumption tax system, the corporate system, the personal tax system—and see if we got the balance right and see, frankly, if the tax system is fit for its purpose in today's economy, because the world has changed a lot, as I said. Income is a lot more mobile.
On October 27th, 2014. See this statement in context.