Coburn: Give Congress deadline for tax reform

Sen. Tom Coburn (R-Okla.) said Wednesday that he believed that Congress should be given an ultimatum to completely reform the tax code in the coming months to stimulate the economy and close loopholes exploited by certain taxpayers and corporations.

"The way to solve that problem though is saying that by a certain date, say four months from now, that tax code's gone," Coburn said on MSNBC. "Now Congress and the president, you've got four months, put in a tax code in that is stimulative to the country, still slightly progressive, fair, and make sure everybody is participating in carrying the load in the country. Americans would accept that."

The Oklahoma senator said that he believed the current tax code was partially responsible for the stalled American economy.

"One of the reasons we're having trouble creating a dynamic economy ... is that you have a tax code that is riddled with tax earmarks," Coburn said.

Coburn went on to say that the tax system, coupled with mounting financial instability for Social Security and Medicare, provided too great an opportunity for the "political class" to avoid responsibility.

"I think there's a real deficit of leadership," Coburn said. "I think most Americans would like to be treated like grown-ups."

He went on to bemoan politicians who said that they would protect the status quo, urging them to "quit lying to seniors and saying we can't change Medicare."

"Americans will stand up and solve the problems we have," Coburn said.