“From 2008 to 2016 all the growth in the American economy, all the growth in national income, was earned just by the wealthiest 5% of the population. So they got all the growth. 95% of the population didn't grow. If you can get a flat tax or other lower tax, as Trump is suggesting, then this richest 5% will be able to keep even more money. That means that the 95% will be even poorer than they were before, relative to the very top.” IfsMeanAbleGrowsGrowthEconomyTrumpTaxesPopulationIncomeFlatsRelativeMore MoneySuggestingAmerican EconomyFlat Tax Author:Michael Hudson
“What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money by lending to the bottom 95%, or the bottom 99%. When you give them more after-tax income, it enables them to buy even more control of government, even more control of election campaigns. They're not going to spend this money back into the goods-and-services economy.” GivingUseGovernmentEconomyTaxesElectionBottomDebtCampaignsIncomeGoodsLoadLendingGoods And Services Author:Michael Hudson
“We can't afford to waste people. We can't afford to have people think the game is over before it's begun. We've got to be saying to the Canadian people: you can't tax cut your way to a productive 21st-century economy. You can talk that talk, but it's not going to give you a productive 21st-century economy, because it will scythe apart the public goods that make prosperity possible. That's what we've got to say, and so we shall.” PeopleThinkingWayGivingGamesEconomyCuttingCenturyTaxesWasteProsperityProductiveGoods21st CenturyTax CutsScythes Author:Michael Ignatieff
“If this taxation exemptions for Church were rescinded, our property taxes would be substantially lowered, and those who rent houses and apartments would consequently be able to pass along this savings in the form of lowered rents. It could have a profoundly salubrious effect on the entire economy.” IfsWould BeAbleFormHouseChurchEconomyEffectsTaxesPropertySavingApartmentTaxationSavingsExemptionProperty Taxes Author:Madalyn Murray O'Hair
“So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after paying taxes and after paying the FIRE sector (Finance, Insurance, Real Estate). Whether it's housing insurance or mortgage insurance. So there's an idea of distracting people. Don't think of your condition. Think of how the overall economy is doing. But don't think of the economy as an overall unit. Think of the stock market as the economy. Think of the rich people as the economy. Look at the yachts that are made. Somebody's living a lot better. Couldn't it be you?” PeopleThinkingRealEconomyRichTaxesFinanceRich PeopleThink Of YouMortgageYacht Author:Michael Hudson
“The right U.S. tax policy could positively impact decisions to develop or redevelop new retail and restaurant destinations that make a community great. Policy improvements can grow the economy in communities across the country, spurring investment and new development.” CountryCommunityDecisionEconomyPolicyTaxesInvestmentImprovementPositively Author:Thomas M. McGee
“The Democrats are going to tax everybody through the roof. It is going to be focused on people that are wealthy because that's who they can tax. When you look at the stimulus plan - see, this doesn't make any sense, this is not working, it's not going to work, it's not intended to work the way we all were told it was gonna work. Health care is not going to get better. It's gonna get worse. It's gonna get rationed. The economy, the energy sector, nothing is being improved here. Everything's being wrecked.” PeopleCareEnergyEconomyTaxesDemocratFocusedHealth CareGet BetterWealthyRoofGoing To Work Author:Rush Limbaugh
“There's no way you can grow an economy with that, with that many people not working and not paying taxes, you can have any kind of government solvency, you can't have any kind of growing economy, which is exactly what the Democrats want, by the way. Much better for the Democrats that you don't work. The more you work, the less dependent on them you are. If this sounds hideous, I'm sorry, it's true.” PeopleKindEconomyTaxesDemocratSorry Author:Rush Limbaugh
“I think what the Fed fears is that, if Donald Trump gets big tax cuts and big spending increases that take effect right now, when the economy is close to full employment, they will have to raise rates more rapidly.” ThinkingEconomyCuttingTaxesRate Author:David Wessel
“I believe, as a matter of principle, that the debt is a problem that must be addressed sooner rather than later. I also know that fundamental changes are necessary in the way Washington spends and taxes if we truly want a healthy economy.” BelieveProblemI BelieveEconomyHealthyTaxes Author:Mick Mulvaney
“I think the reason that the Trump economic agenda is beneficial is, he is doing the right things. He wants to see growth, he wants to see to lower taxes, he wants to see this cash pile sitting outside the US return to the US. All of these things I think will be good for the US economy, and as I've said, if the US economy grows, the global economy benefits hugely.” ThinkingReasonGrowthEconomyEconomicTaxesBe GoodRight ThingDoing The Right ThingGlobal Economy Author:Martin Gilbert
“We have a raising wages agenda. And that includes tax policy, trade policy. TPP is a very bad agreement. Covers 40 percent of the world's economy, and it will cost us jobs. It's not well-drafted. It's an agreement, an investment agreement that will benefit Wall Street a lot, but not working people.” PeopleEconomyPolicyWallTaxesTradeInvestment Author:Richard Trumka
“We need to remake and reinvent our housing system so that it supports the flexibility and mobility of our economic system broadly. Home-ownership is rewarded by the federal tax code, which made great sense when that piece of the American Dream, and all the consumption that came with it, was essential to rebuilding the economy. These days, however, it feels like a huge penalty to people who want to travel light within the new mobile economy without a mortgage to hold them back.” PeopleDreamSupportEconomyEconomicTaxesCodeAmerican DreamFlexibilityMortgageIt Support Author:Richard Florida
“President Obama, I voted for him. I think he's a mature politician, but here's what happened. Obama wanted a green economy. He spent billions of dollars of tax money to create a green economy and it didn't happen. The question is why.” ThinkingPresidentEconomyPoliticianTaxesMaturePresident Obama Author:Jeremy Rifkin
“I think everybody benefitted from what I am calling a bubble finance system, a bubble economy and if we're ever going to right the system, we're going to have to stop this explosion of the federal debt. We need huge spending cuts, OK? Don't get me wrong, we need to raise regular taxes too but even beyond that it's not going to hurt if we want to reset the system to ask those who have benefitted disproportionately - remember, we got $60 trillion of net worth in the household sector. $45 trillion of that belongs to the top 5 percent.” ThinkingRememberHurtEconomyCuttingTaxesFinanceBubbles Author:David Stockman
“Our true choice is not between tax reduction on the one hand and the avoidance of large federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget, just as it will never produce enough jobs or enough profits.” LongEnoughChoicesPartyEconomySecurityBalanceTaxesRateNational SecurityAvoidance Author:John F. Kennedy
“If you cut taxes on the rich, they'll get so excited and go into so much busy economic activity, that the economy will grow and your tax revenues will actually rise. So cut taxes, collect more taxes. It is a miracle.” EconomyRichCuttingEconomicTaxesMiracleBusyExcited Author:Greg Palast
“You can't look at the tax cut on a family until you realized how - how much better off they're going to be in a growing economy.” EconomyCuttingTaxes Author:Mick Mulvaney
“Thing we're trying to add to this is that lower corporate tax rates as we try and spur the economy. So that's where the Donald Trump attention is. The president's attention is on the middle class, making sure that's simple, fair and better. And then on the corporate tax rate, to try and get folks to invest in America again. His focus has not been on the impact on the top 1 percent.” TryingSimpleAttentionEconomyFocusTaxesRateMiddle Class Author:Mick Mulvaney
“We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.” BelieveGrowthEconomyEconomicTaxesCodeEconomic Growth Author:Mick Mulvaney
“The reason we've been growing at 1.8 percent for the last eight, ten years, which is way below the historical average, is in large part because of our tax code. It is important to us to get the biggest, broadest tax reduction, tax cuts, tax reform that we can possibly get because it's the only way we get back to 3 percent growth. That's what's driving all of this, how do you get the American economy back on that historical growth rate of 3 percent and out of these doldrums of 1.8, 1.9 that we had of the previous Barack Obama administration?” ImportantReasonGrowthEconomyCuttingTaxesHistoricalRateDrivingBarackCode Author:Mick Mulvaney
“My tax plan will cut taxes for 95 percent of workers, because we need to put money back into the pockets of struggling middle-class families and close the egregious tax loopholes that have exploded over the last eight years. My plan eliminates capital gains taxes entirely for the small businesses and start-ups that are the backbone of our economy, as opposed to John McCain's plan, which would tax these businesses. John McCain is running to serve out a third Bush term. But the truth is, when it comes to taxes, that's not being fair to George Bush.” RunningTermStruggleEconomyCuttingTruth IsTaxesSmall BusinessBackboneMccain Author:Barack Obama
“If I were a candidate for running, I'd say, "Look at what the economy has done." It's strong. We've created a lot of jobs. I'd be telling people that the Democrats will raise your taxes. I'd be reminding people that tax cuts have worked in terms of stimulating the economy. I'd be reminding people there's a philosophical difference between those who want to raise taxes and have the government spend the money, and those of us who say, "You get to spend the money the way you want to see fit. It's your money."” PeopleDoneRunningStrongTermEconomyCuttingFitTaxesPhilosophicalDemocrat Author:George W. Bush
“In the eyes of many business leaders, there is never an opportune moment for tax reform. Yes, the economy is losing momentum, but that is not because a handful of people are losing their privileges. Slow growth did not first begin during my term in office; the market downturn is making itself felt around the world. My government has responded with an agenda aimed at raising productivity. We are also investing substantially in infrastructure - the plan calls for €20.5 billion or $26.3 billion by 2021.” PeopleWorldMomentsEyeGrowthTermLeaderEconomyTaxesOfficeLosingProductivity Author:Michelle Bachelet
“Canadians expect their government to make sure we're helping the people who need the help and growing the economy, and that's exactly what we're committed to do, not just with our historic investments into infrastructure that are going to create jobs while the others are focusing on cuts, but by lowering payroll taxes, by lowering EI premiums from $1.88 to $1.65, at the same time as we make sure that the people who need help are getting the help that they paid into, because they're not getting it under Stephen Harper. That's what Canadians expect from their government.” PeopleHelpingEconomyCuttingTaxesInvestmentCommittedHistoricNeed HelpPayroll Author:Justin Trudeau
“You know, the elites always want to shame the poor - right? - and everyone else. I mean, the fact is, this economy is based on 70 percent of the people driving consumer demand. If people do not purchase goods and services, this economy will grind to recession. And that is why, if you are going to do a tax cut, it ought to really be aimed at low-income and middle-income people.” PeopleMeanPoorEconomyCuttingTaxesShameDrivingGrind Author:Keith Ellison
“In 1990, about 1 percent of American corporate profits were taken in tax havens like the Cayman Islands. By 2002, it was up to 17 percent, and it'll be up to 20-25 percent very quickly. It's a major problem. Fundamentally, we have a tax system designed for a national, industrial, wage economy, which is what we had in the early 1900s. We now live in a global, asset-based, services world. And we need to have a tax system that follows the economic order or it's going to interfere with economic growth, it's going to reduce people's incomes, and it's going to damage the US.” WorldProblemGrowthEconomyTakenEconomicTaxesInterfereEconomic Growth Author:David Cay Johnston
“And you can't have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade. It just can't be done.” WayDoneGovernmentEconomyToo MuchTaxesTradeRateProsperousPrintingFree TradeRaising TaxesOverspending Author:Arthur Laffer
“It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.” EconomyCuttingEffectsTaxesIncreaseRateCollapseReverseAmazedTax Cuts Author:Arthur Laffer
“I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.” ShouldLastsClassEconomyCuttingMiddleTaxesPercentRaisesMiddle ClassTax Cuts Author:Barack Obama
“The last thing you want to do is raise taxes in the middle of the recession because that would just suck up and take more demand out of the economy and put businesses in a further hole.” WantLastsEconomyMiddleDemandTaxesRaisesHolesRecessions Author:Barack Obama
“I want to reform the tax code so that it's simple, fair, and asks the wealthiest households to pay higher taxes on incomes over $250,000 - the same rate we had when Bill Clinton was president; the same rate we had when our economy created nearly 23 million new jobs, the biggest surplus in history, and a lot of millionaires to boot.” WantJobsAsksPresidentSimplePayMillionsEconomyHigherTaxesFairsBillsClintonRateIncomeReformCodeBootsHouseholdMillionaireSurplusNew Job Author:Barack Obama
“The American people know what's necessary to get this economy moving again. It's fiscal discipline in Washington, D.C. and across-the-board tax relief for working families, small businesses and family farms.” PeopleKnowsMovingEconomyDisciplineTaxesBoardsReliefFarmsSmall BusinessFamily Farms Author:Mike Pence
“Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.” ThinkingWellsRealityGrowthPresidentEconomyStudyCuttingEconomicTaxesRateRevenueEconomic GrowthPresident BushTax CutsPresident Kennedy Author:Mike Pence
“You bet every member of Congress who votes for this bill ought to read it, read it thoroughly, and understand that what we're looking at here amounts to nothing more than a government takeover of our health care economy, paid for with nearly a trillion dollars in new taxes on individuals and small businesses. And it must be opposed.” GovernmentCareIndividualEconomyOughtAmountTaxesMembersVotePaidBillsDollarsCongressHealth CareSmall BusinessTakeoversGovernment Takeover Author:Mike Pence
“In Michigan, a liberal democrat raised taxes and kept their government programs at the same level. And guess what? Their economy continued into the toilet, it continued down.” GovernmentLevelsEconomyTaxesProgramDemocratRaisedToiletsMichiganGovernment Programs Author:Rick Perry
“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” IfsHumorGovernmentMovingPoliticalPoliticsPresidentFreedomViewsLibertyEconomyEconomicMilitaryPoliticianTaxesEconomicsConservativeLibertarianSocialismCommunismPresidentialWelfarePhrasesLiberalismPatrioticLibertarianismTaxationKeep MovingFreedom And LibertyIncome TaxFreedom LibertyProperty RightsLimited GovernmentBig GovernmentSubsidiesAmerican GovernmentFree GovernmentGovernment SpendingLimited FreedomPolitical WillUs PresidentPolitical ViewGreat LibertarianTax DayAmerican EconomyAmerica FreedomGreat Veterans DayRepublican GovernmentGovernment And SocietyTaxes FunnyGreat PoliticalEconomy And EconomicsStrong EconomyFuture Of AmericaBest PoliticalGreat ConservativeGovernment And BusinessGovernment WelfareRussian Economy Author:Ronald Reagan
“I would cap the amount of federal government can spend at 20 percent of the economy. Bring it back to 20 percent or lower. And say, we are not going to spend above that level. Democrats, they want to raise your taxes and spend more and more and turn us into an economy which is no longer driven by the private sector.” WantGovernmentTurnsLevelsEconomyAmountTaxesPercentRaisesDemocratDrivenFederal GovernmentCapsPrivate Sector Author:Mitt Romney