CNN N. H. Town Hall: on Tax Reform

Deval Patrick: Raise the estate tax to 55%

PATRICK: There is no "the problem." There is a problem of purpose and direction and efficiency, in my view. For example, I think we should radically simplify our corporate and our individual income tax system. And while I do not support a wealth tax, I do support raising the estate tax. I think it ought to go back up to 55 percent, which is where it was. We know it works. I think about that as nonrecurring revenue. And I would use those revenues in part to pay down national debt. The other things we have to do, though, are invest in the things that enable us to grow, because that's the other solution to our national debt. And so education, innovation, infrastructure, a formula that we used to terrific effect in Massachusetts, is something we need to scale.