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Quote by T.R. Reid

“You also get a deduction in America for taking a night school course, growing sugarcane, moving to a new city for a job, replanting a forest, insulating the attic, destroying old farm equipment, employing Native Americans, commuting to work by bicycle - but only if the bike is regularly used for a substantial portion of travel - or buying a plug-in hybrid sports car, or buying a recreational vehicle. I mean there are hundreds of them, and most of them are nuts.”

Quote by T.R. Reid

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T.R. Reid

T.R. Reid is a renowned journalist with a career spanning various fields, including politics, economics, and social issues. Although his exact birth and death dates are unknown, his influence in the field of journalism is undeniable. more

“Starting in the '80s or so, after the United States sharply cut its rates, other countries decided they better do it too, and here's how you do it: you just wipe out the exemptions, the deductions, the credits, the depreciation allowances. And people complain, "Oh my God, it's terrible," but you give them much lower rates and you give them an easier form to file, and people accept that tradeoff.”

People Giving Country Accepting Cutting Terrible Rate Complaining

Author:T.R. Reid

“I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.”

Country Serious Taxes Labor Investment

Author:T.R. Reid

“It turns out a VAT - a value-added tax - is a very easy tax to collect and a very hard tax to evade. It's a really good idea. It was invented about 60 years ago in France, of course. Because they're so good at taxing. They had a business tax that was easy to evade, and the head of the French IRS invented this value-added tax, which is very hard to evade.”

Easy Taxes

Author:T.R. Reid

“Professor Eric Zolt of UCLA, said to me, "The VAT is such a good idea, mark my words, within five years, the U.S. will have a VAT." Then he said, "Of course, I've been saying that for 20 years."”

Author:T.R. Reid

“In the United States, unlike any other advanced democracy, money really talks. Our Supreme Court has said that spending money on politicians is a form of free speech. No other court has said that.”