“If your Income Taxes go to help out the less fortunate, there could be no legitimate kick against it in the world. This is becoming the richest, and the poorest Country in the world. Why? Why, on account of an unequal distribution of the money.” IfsWorldCountryHelpingBecomingTaxesAccountsIncomeFortunateKicksDistributionPoorestIncome TaxLess Fortunate Book:Will Rogers' Weekly Articles: The Hoover Years, 1929-1931 Source: Will Rogers' Weekly Articles: The Hoover Years, 1929-1931
“While it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.” YearsMeanIdeasGrowsPoorTerribleTaxesGainsPerformancesAccountsSellsSorryInvestingFundInvestorsDragPercentagesCapital GainsIndex FundsIndexing Author:William J. Bernstein
“It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.” WayYearsRealSeemsInterestDifferencesPayEconomicPeriodsTaxesPercentAccountsIncomeSavingZeroInflationSavingsOutrageousWidowsIncome Tax Author:Warren Buffett
“Social Security is a widely popular program because the individual has been deceived by the Statist to believe that the government has been prudently and diligently managing his accumulated pension investment in his Social Security account, which he presumes to be funded by his own payroll taxes.” BelieveHas BeensGovernmentIndividualSocialSecurityTaxesProgramAccountsInvestmentSocial SecurityDeceivedPensionPayrollPayroll Tax Book:Liberty and Tyranny: A Conservative Manifesto Source: Liberty and Tyranny: A Conservative Manifesto
“I never had a checkbook. It used to be cash in hand, stuff in the pocket, or a manager would keep some accounts and give me money. I started to wonder what it must feel like to actually make a profit, pay taxes, and to have a phone listing, and a manager. And also, I was sick of sleeping around every night.” GivingFeelsHandsUsedNightStuffSleepPayWonderTaxesSickAccountsGive MePhonesProfitUsed To BeManagersPocketsCashEvery NightSleeping Around Author:Iggy Pop
“We all use cash in our everyday life, but we don't use hundred-dollar bills. We're not using 500-euro notes. And yet these account for mountains of cash out there. I think they're being used in tax evasion and by criminals of all types.” ThinkingUseUsedTypeMountainTaxesHundredAccountsBillsDollarsNotesEverydayCriminalsCashEveryday LifeEuroEvasionDollar BillsTax Evasion Author:Kenneth Rogoff
“I think any public policy that doesn't account for the fact that most CO2 emissions don't come from the United States, but they come from other countries, is a flawed policy. So let's not unilaterally tax our power, our people, to solve a global problem.” PeopleThinkingCountryStatesFactsProblemUnitedUnited StatesPolicyTaxesAccountsSolveOther CountriesFlawedEmissionsPublic PolicyCo2Co2 Emissions Author:Todd Young
“In order to fix Social Security, we must restructure it so that we continue to provide for our Nation's seniors that are approaching retirement age, but allow for younger taxpayers to invest a portion of their Social Security taxes in private accounts.” AgeOrderNationsSocialSecurityTaxesAccountsBirthdayRetirementPortionsSeniorSocial SecurityTaxpayers30th BirthdayRetirement AgeRestructure Author:Herman Cain
“Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.” IfsWellsDoeImaginationBusinessDependsTaxesPercentGainsAccountsInvestmentResponseRateSavingQuartersEarningSavingsGroverSavings Accounts Author:Warren Buffett
“Worried about an IRS audit? Avoid what's called a red flag. That's something the IRS always looks for. For example, say you have some money left in your bank account after paying taxes. That's a red flag” LooksLeftExampleTaxesRedAccountsWorriedFlagsTaxationIrsBank AccountsRed FlagsTax DayPaying TaxesTaxes Funny Author:Jay Leno