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Obama aide Volcker: Corporate tax policy "a mess"


President Barack Obama (L) greets Chairman of the Economic Recovery Advisory Board Paul Volcker after signing the Dodd-Frank Wall Street Reform and Consumer Protection Act in Washington, July 21, 2010. REUTERS/Jim Young
President Barack Obama (L) greets Chairman of the Economic Recovery Advisory Board Paul Volcker after signing the Dodd-Frank Wall Street Reform and Consumer Protection Act in Washington, July 21, 2010. REUTERS/Jim Young

NEW YORK (Reuters) - U.S. corporate income tax policy "is a mess" and could do more to generate investment in green energy, Paul Volcker, an adviser to President Barack Obama said on Wednesday.

"Some kind of energy tax probably makes sense," he told a conference at the Harvard Club.

The former Federal Reserve Chairman, answering a question about taxes for high-earners, said the biggest redistribution of wealth he had seen in his lifetime was from average American families to the rich.

(Reporting by Daniel Bases and Kristina Cooke; Editing by Padraic Cassidy)

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