“What I have proposed would be paid for by raising taxes on the wealthy, because they have made all the gains in the economy.” MadeWould BeEconomyTaxesGainsPaidWealthyRaising Taxes Author:Hillary Clinton
“Most of the gains in the last years since the Great Recession have gone to the very top. So we are going to have the wealthy pay their fair share. We're going to have corporations make a contribution greater than they are now to America.” YearsLastsAmericaPayGoneGreaterShareGainsFairsCorporationsContributionWealthyLast YearRecessionsFair ShareGreat Recession Author:Hillary Clinton
“If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.” IfsMeanEconomicHigherActivityLimitsTaxesPercentGainsHarderDollarsInvestmentRateInvestingIncomeSavingExtrasProductiveWealthyContrastConsumptionTaxpayersSavingsDiscouragingIncome TaxSavings And Investment Author:Robert H. Frank
“One basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the gains of the rich people since 1945 have been "capital gains".” PeopleHas BeensRichGainsMythIncomeWealthyEarningRich PeopleGet RichCapital Gains Author:Michael Hudson
“If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then you buy other stocks, you can avoid paying taxes. And if your accountant registers your wealth offshore in a Panamanian fund, like Russian kleptocrats do - and as more and more Americans do - you don't have to pay any tax at all, because it's not American income, it's foreign income in an enclave without an income tax.” IfsWealthPayTrumpTaxesGainsSellsIncomeFundWealthyRegisterIncome TaxHeirsAccountantsPaying TaxesOffshoreTrust Funds Author:Michael Hudson