“The weak economy, widening income inequality, gridlock in Congress and a presidential election: Those were perhaps the dominant economic and political themes of 2012.” PoliticalEconomyEconomicWeakElectionCongressIncomeInequalityPresidentialThemeDominantPresidential ElectionIncome InequalityEconomic InequalityGridlock Author:Steven Rattner
“The stark reality facing us today is that without the labour reforms, workers will get neither the income nor jobs in the face of cut-throat global economic competition.” RealityTodayJobsFacesCuttingEconomicCompetitionWorkersIncomeReformLabourThroatStarksStark RealityEconomic Competition Author:Kim Young-sam
“The income tax is flawed for a number of reasons - it discourages economic growth and encourages a bloated government.” ReasonGovernmentGrowthNumbersEconomicTaxesIncomeFlawedEconomic GrowthDiscouragingIncome Tax Author:Mark Skousen
“The Bush tax cuts should be extended permanently for families with annual incomes of less than $250,000 and should be phased out slowly for those making more than that. Raising taxes on anyone now, when the economic recovery is so fragile, would be a mistake.” ShouldWould BeMistakeCuttingEconomicTaxesIncomeRecoveryFragileAnnualsTax CutsRaising TaxesEconomic Recovery Author:Mark Zandi
“There's five factors or characteristics of places where kids from poor backgrounds don't do very well. And those are places that have more economic and racial segregation, places with more income inequality.” WellsKidsPoorFiveEconomicBackgroundsIncomeFactorsInequalityCharacteristicsSegregationIncome InequalityRacial SegregationPoor Background Author:Gwen Ifill
“This society in which knowledge workers dominate is in danger of a new "class conflict" between the large minority of knowledge workers and the majority of workers who will make their livings through traditional ways, either by manual work... or by service work. The productivity of knowledge work - still abysmally low - will predictably become the economic challenge of the knowledge society. On it will depend the ability of the knowledge society to give decent incomes, and with them dignity and status, to non knowledge people.” PeopleWayGivingStillsChallengesAbilityClassEconomicDangerDependsConflictLowsDignityMajorityWorkersProductivityIncomeTraditionalDecentMinoritiesManualsThis SocietyKnowledge WorkersClass ConflictNew ClassManual Work Author:Peter Drucker
“The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.” WealthEconomicFaultsIncomeEmploymentDistributionArbitraryOutstandingDistribution Of Wealth Author:John Maynard Keynes
“I think that one of the things that we all agree to is that the touchstone for economic policy is, does it allow the average American to find good employment and see their incomes rise; that we can't just look at things in the aggregate, we do want to grow the pie, but we want to make sure that prosperity is spread across the spectrum of regions and occupations and genders and races; and that economic policy should focus on growing the pie, but it also has to make sure that everybody has got opportunity in that system.” ThinkingWantShouldLooksDoeOpportunityGrowsRaceFocusGrowingEconomicPolicyAgreeAverageProsperitySpreadGenderIncomeEmploymentRegionsOccupationPieSpectrumEconomic PolicyTouchstones Author:Barack Obama
“Unless the fundamental categories of economics such as 'property' were to be redefined in a radically personal way the liberal rationalist curse which had established economics as a scientific discipline cut off from human interests would proliferate. Economic models ... have failed to incorporate any meaningful index of individual benefit other than the original utilitarian one, ... the index of increasing income or an increasing flow of commodities.” WayHumansIndividualInterestCuttingEconomicDisciplineBenefitsModelsEconomicsFlowOriginalsFundamentalsPropertyMeaningfulIncomeCurseCategoriesCommodityUtilitarianEconomic Models Author:John Carroll
“One of the most insidious consequences of the present burden of personal income tax is that it strips many middle class families of financial reserves & seems to lend support to campaigns for socialized medicine, socialized housing, socialized food, socialized every thing. The personal income tax has made the individual vastly more dependent on the State & more avid for state hand-outs. It has shifted the balance in America from an individual-centered to a State-centered economic & social system.” MadeStatesHandsSeemsAmericaIndividualSocialClassSupportEconomicMiddleBalanceTaxesConsequenceMedicineFinancialBurdenCampaignsIncomeDependentMiddle ClassReservesHousingIncome TaxInsidiousSocial SystemsAvidMiddle Class FamilySocialized Medicine Author:William Henry Chamberlin
“The party should stand for a constantly wider diffusion of property. That is the greatest social and economic security that can come to free men. It makes free men. We want a nation of proprietors, not a state of collectivists. That is attained by creating a national wealth and income, not by destroying it. The income and estate taxes create an orderly movement to diffuse swollen fortunes more effectively than all the quacks.” MenWantShouldStatesWisdomPoliticsNationsSocialWealthPartyEconomyEconomicSecurityMovementTaxesCreatingPropertyFortuneIncomeLiberalismDestroyingEstatesFree ManOrderlySwollenQuacksDiffusionEconomic SecurityEstate Taxes Book:Addresses Upon the American Road Source: Addresses Upon the American Road
“Two-factor economics makes it clear that our economic problem is not what one-factor (labor-centric) thinkers assert: an inequitable distribution of income. It is an inequitable distribution of productive power, from which an unworkable distribution of income results.” TwoProblemWisdomPoliticsResultsEconomyClearEconomicEconomicsLaborIncomeFactorsLiberalismProductiveThinkerDistributionEconomic Problems Author:Louis O. Kelso
“Economic equity is an enormous empowerment of women. Having jobs that provide income means that women can be a more effective force, a more equal force, in the political process. Women with income take themselves more seriously and they are taken more seriously.” MeanJobsPoliticalForceProcessTakenEconomicEqualEmpowermentEnormousIncomeEquity Author:Betty Friedan
“There's no question that the black middle class has benefited greatly by the civil rights movement. But there is a large black underclass that does not have access to jobs. If there's no clear road to income and status except crime, we should expect social problems. You can't solve this problem without addressing the economic issues, and the same is true with gender.” IfsShouldDoeProblemJobsSocialBlackClassIssuesClearRightsEconomicMiddleCrimeMovementGenderSolveAccessIncomeCivil RightsMiddle ClassCivil Rights MovementSocial ProblemsEconomic Issues Author:Betty Friedan
“High gas prices are eating away at consumers disposal income and could lead to a further economic downturn, especially for those whose livelihood depend on gasoline and diesel fuel.” EconomicDependsEatingIncomeConsumersFuelGasLivelihoodGasolineDieselGas PricesDownturnEconomic DownturnDiesel Fuel Author:Major Owens
“Let's take the nine states that have no income tax and compare them with the nine states with the highest income tax rates in the nation. If you look at the economic metrics over the last decade for both groups, the zero-income-tax-rate states outperform the highest-income-tax-rate states by a fairly sizable amount.” IfsLooksStatesLastsNationsGroupsEconomicAmountTaxesHighestRateDecadesNineIncomeCompareZeroIncome TaxMetrics Author:Arthur Laffer
“There are 11 states in the United States that in the last 50 years instituted an income tax. So I looked at each of those 11 states over the last 50 years, and I took their current economic metrics and their metrics for the five years before they put in the progressive income tax... Every single state that introduced a progressive income tax has declined as an overall share of the U.S. economy.” YearsStatesLastsUnitedUnited StatesEconomyFiveShareEconomicTaxesCurrentsIncomeFive YearsProgressiveIncome TaxMetrics Author:Arthur Laffer
“Financial security is a constant in my life. I allow my income to constantly expand, no matter what the newspapers and economists say. I move beyond my present income, and I go beyond the economic forecasts. I do not listen to people out there telling me how far I can go or what I can do.” PeopleI CanMatterMovingCan DoEconomicSecurityNo Matter WhatConstantFinancialNewspapersIncomeAbundanceEconomistWise WomenSuccessful WomenForecastsFinancial Security Author:Louise Hay
“Schools, the institutions traditionally called upon to correct social inequality, are unsuited to the task; without economic opportunity to follow educational opportunity, the myth of equality can never become real. Far more than a hollow promise of future opportunity for their children, parents need jobs, income, and services. And children whose backgrounds have stunted their sense of the future need to be taught by example that they are good for more than they dared dream.” NeedsChildrenRealDreamSchoolJobsOpportunitySocialParentEconomicExampleTaughtPromiseTasksInstitutionsEducationalMythBackgroundsIncomeInequalityHollowSocial Inequality Book:All Our Children: The American Family Under Pressure Source: All Our Children: The American Family Under Pressure
“We work harder and we earn less. Income inequality is at the highest point in over a century. While American capitalism never guaranteed success, it did guarantee opportunity, for too many, the dream of economic mobility has been replaced with a nightmare of economic stagnation.” Has BeensDreamSuccessOpportunityEconomicCenturyHard WorkHighestCapitalismHarderIncomeInequalityGuaranteesNightmareReplacedWork HarderStagnationMobilityIncome InequalityAmerican Capitalism Author:Mario Cuomo
“The biggest roadblock to middle-class economic advancement is that governments confiscate more than a third of all family income. Each year the average American taxpayer works 127 days - from January 1 until May 7 - just to pay taxes.” YearsMayGovernmentPayClassEconomicMiddleTaxesThirdsAverageIncomeMiddle ClassAdvancementTaxpayersJanuaryRoadblockJanuary 1 Author:Thomas DiLorenzo
“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
“Capitalism in the 19th century did not doom the worker to a life of perpetual poverty. Instead, they kept creating new and better-paying employments as the decades went by. They produced the wealth and rising income that resulted in the emergence of a phenomenon completely new to human history: a self-supporting and educated middle class that grew more and more as they lower classes bettered their economic well-being.” HumansWellsSelfWealthClassPovertyEconomicMiddleCenturyGrewCreatingCapitalismWorkersDecadesIncomeEducatedEmploymentWell BeingRisingMiddle ClassPhenomenonPerpetualHuman HistoryDoom19th CenturyEmergenceLower Class Author:Richard Ebeling
“From an economic perspective, women are treated unfairly: they perform 66 percent of the world's work and produce 50 percent of the food but they only earn 10 percent of the income and own 1 percent of the property.” WorldEconomicProducePerspectivePercentPropertyIncomeTreatedTreated Unfairly Author:Zainab Salbi
“The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.” IfsThinkingIdeasEndsProblemGovernmentWealthPoorPayMoralCuttingGrowingShareEconomicHigherTaxesConsequenceResourcesProgramTablesSpendingDefenseAidsToleranceIncomeInequalityFundWealthyDistributionUnwillingNational DefenseEconomic ProblemsSpending CutsIncome Distribution Author:Bruce Bartlett
“[W]hich category of crimes does the State pursue and punish most intensely? [T]hose against private citizens or those against itself? The gravest crimes in the State's lexicon are almost invariably not invasions of private person or property, but dangers to its own contentment, for example, treason, desertion of a soldier to the enemy, failure to register for the draft, subversion and subversive conspiracy, assassination of rulers and such economic crimes against the State as counterfeiting its money or evasion of its income tax.” PersonsDoeStatesEnemyEconomicCrimeDangerExampleCitizensTaxesPropertySoldierIncomePursueContentmentCategoriesConspiracyRulersInvasionRegisterIncome TaxTreasonAssassinationSubversiveEvasionSubversionLexiconDesertion Author:Murray Rothbard
“The impact of climate change is relatively small. The average impact on welfare is equivalent to losing a few per cent of income. That is, the impact of a century worth of climate change is comparable to the impact of one or two years of economic growth.” YearsTwoGrowthEconomicCenturyLosingImpactClimateClimate ChangeAverageIncomeWelfareTwo YearsCentsEconomic Growth Author:Richard Tol
“Trickle down economics is a fraud. Giving tax breaks to the rich and large corporations does not create jobs. It simply makes the rich richer, enlarges the deficit and increases income and wealth inequality. We need economic policies which benefit working families, not the billionaire class.” NeedsGivingDoeJobsWealthClassBreakRichEconomicPolicyTaxesBenefitsEconomicsIncreaseIncomeInequalityCorporationsFraudDeficitBillionaireEconomic PolicyTax BreaksTrickle DownWealth InequalityTrickle Down Economics Author:Bernie Sanders
“It's a terrible cruelty of predatory capitalism: both parents now have to work. A family has to have two incomes in order to buy the things that are desirable in our culture. So the degradation of motherhood - the sense that motherhood isn't itself a calling - also arises from economic pressure.” TwoOrderCultureParentEconomicTerribleCallingCapitalismPressureMotherhoodIncomeAriseCrueltyDesirableDegradationPredatory Author:James Hillman
“This is a very important issue that the corporate media chooses not to talk about a whole lot, that we have an economic system which is rigged, which means that at the same time as the middle class of this country is disappearing, almost all of the new income and wealth in America is going to the top 1 percent. You have the top one-tenth of 1 percent owning almost as much wealth as the bottom 90 percent - 58 percent of all new income is going to the top 1 percent.” MeanImportantCountryWholeAmericaWealthClassIssuesEconomicMiddleMediaPercentBottomDisappearIncomeCorporateMiddle ClassEconomic SystemsImportant IssuesRigged Author:Bernie Sanders
“I've laid out my economic plans. I want to grow the economy. That's why I have plans for jobs and raising incomes. I do want to go after bad actors on and off Wall Street, because I think companies that take money from federal, state, and local governments and then pick up and move should have to pay that back.” ThinkingWantShouldStatesGovernmentJobsMovingActorsGrowsPayCompanyEconomyPlansEconomicStreetsWallPicksShould HaveIncomeLocalsAnd OffLocal Government Author:Hillary Clinton
“I think the stress on income inequality is something that every American should take seriously, we have got to figure out how we're going to provide more economic opportunity - good jobs with rising incomes - and I'm excited to work with Senator Sanders in doing that.” ThinkingShouldJobsOpportunityEconomicFiguresStressExcitedIncomeInequalityRisingSenatorsGood JobIncome Inequality Author:Hillary Clinton