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Will Obama's views on tax reform 'evolve' too?

Will Obama's public support of marriage equality spill over to financial matters?

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Pete Souza/AP/The White House/File
In this photo released by The White House, President Barack Obama participates in an interview with Robin Roberts of ABC's Good Morning America, in the Cabinet Room of the White House, Wednesday, May 9, 2012, in Washington.

Robin, thanks for asking me back on Good Morning America to talk about my views on tax reform. After we spoke about gay marriage, I got to thinking about another deeply-held emotional issue that affects every American family.

Well鈥 you know, I have to tell you, as I鈥檝e said, I鈥檝e鈥 I鈥檝e been going through an evolution on this issue. I鈥檝e always been adamant that Americans should be treated fairly and equally. I do believe we ought to have a revenue code that raises enough money to fund the government we want. And we should do it in a way that interferes as little as possible in the market economy. 聽

I鈥檝e stood on the side of tax reform. But I had hesitated鈥 in part, because I thought tinkering around the edges would be sufficient鈥搒omething that would close a few loopholes and raise taxes on the rich. And鈥 I was sensitive to the fact that鈥 for a lot of people, you know, the鈥 the phrase tax reform is something that evokes very powerful reactions, brings out the lobbyists, and so forth.

But I have to tell you that over the course of several years, as I talk to friends and family and neighbors. When I think about members of my own staff who pay very high tax rates, who are raising kids together but are thrown into the Alternative Minimum Tax鈥. When I think about new businesses that are unable to take advantage of the same tax subsidies that their bigger, more established competitors can and cannot commit themselves to expanding their business鈥.

You know, Malia and Sasha, they鈥檝e got friends whose parents make the same income and even do the same kind of work, but who pay very different effective tax rates. 聽And I鈥 you know, there have been times where Michelle and I have been sittin鈥 around the dinner table. And we鈥檝e been talkin鈥 and鈥 about their friends and their parents. And Malia and Sasha would鈥 it wouldn鈥檛 dawn on them that somehow their friends鈥 parents would be treated differently. It doesn鈥檛 make sense to them.

And鈥 and frankly鈥 that鈥檚 the kind of thing that prompts鈥 a change of perspective. You know, not wanting to somehow explain to your child why somebody should be treated鈥 differently, when it comes to鈥 the eyes of the law.

At a certain point, I鈥檝e just concluded that鈥 for me personally, it is important for me to go ahead and affirm that鈥 I think the tax code needs a major reform. Now鈥 I have to tell you that part of my hesitation on this has also been I didn鈥檛 want to politicize the issue. There鈥檚 a tendency when I weigh in to think suddenly it becomes political and it becomes polarized.

And what you鈥檙e seeing is, I think, Members of Congress聽working through this issue鈥 in fits and starts. Different policymakers are arriving at different conclusions, at different times. And I think that鈥檚 a healthy process and a healthy debate. But this is an issue upon which the President must lead, and that is what I will do.

That is why I have asked Treasury Secretary Tim Geithner to develop a detailed, specific tax reform plan in consultation with congressional leaders of both parties, business leaders, and others. I will present this plan to the American people next January and will strongly urge Congress to complete action on the bill by the end of 2013.

Thank you Robin, for letting me get this off my chest. 聽

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