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Taxes Quotes

“In 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS.”

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Author:James Traficant
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“Because U.K. artists aren't compensated when their music is played on U.S. radio ­stations, U.S. artists aren't ­compensated when their records are played on U.K. stations based on the fact that there's no reciprocity. If that income came in, our ­artists would be paying income taxes on it. So if we can get a lot of policy on the radar, that may have some positive influence.”

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Author:Neil Portnow
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“Sometimes I wonder how much of these debates have to do with the desire, the legitimate desire, for that history to be recognized. Because there is a psychic power to the recognition that is not satisfied with a universal program, it's not satisfied by the Affordable Care Act, or an expansion of Pell grants, or an expansion of the earned-income tax credit.”

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Author:Barack Obama
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“Once you have an equalization instrument in place, as you have in Canada, there arise tremendous bureaucratic values - bureaucratic rent so to speak - in maintaining the system that you have. To shift to a system that paid the transfers directly to individuals, by having differential rates of federal income tax levied to adjust to provincial fiscal capacities, which would be my preference, you would have huge bureaucratic opposition. People would try to protect the rents they have in the current system of institutions.”

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Author:James M. Buchanan
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“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.”

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Author:Robert H. Frank
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“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.”

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Author:Michael Hudson
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“I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on long term capital gains (tax it at the full tax rate), and institute a progressive tax moving the highest tax rate from 39.6% to 45%. I would favor implementing these three policies in that order, starting with raising the minimum wage, but not stopping there.”

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Author:Philip Kotler
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“President Trump repeatedly says that "America is the highest-taxed country in the world." This is an alternative fact. We pay less in taxes, and our government spends less, as a share of our total wealth, than our counterparts in Western Europe and East Asia. But Trump is right when it comes to corporate tax rates; the U.S. corporate income tax right is among the highest in the world.”

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Author:T.R. Reid
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“If you're a full-time manager of your own property - and full-time, according to Congress, is 15 hours a week - you can take unlimited depreciation and use it to offset your income from other areas and pay little in tax. One of the biggest real estate tax lawyers in New York said to me, if you're a major real estate family and you're paying income taxes, you should sue your tax lawyer for malpractice.”

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Author:Hillary Clinton
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“It was an easy thing to tax for a young country. And then gradually we moved to property taxes, manufacturing taxes, and the income tax was the answer to a populist demand: Let's go after the rich guys. We got into World War I, and they raised the rates and started taxing the rich. Then we got into World War II, and that's when they taxed everybody, because they just needed more revenue.”

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Author:T.R. Reid
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“Today, a large part of Peru's revenues come from mining. Many big mining companies only pay income tax, but they extract minerals, they pollute the water. They don't give any form of compensation to the regions where those minerals are extracted and where they do the damage, forcing the state to help those regions. What my party Gana Peru is stating is that the mining companies will have to pay that compensation. That is called a royalty.”

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Author:Ollanta Humala
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“There's a separation of church and state. If you want the perks that churches have traditionally received, then abide by the rules. If you're going to be involved in the political process, even in soft ways, then surrender the privileges. Let ministers pay income tax on all of their income. Let churches pay income tax, let them pay property taxes. They can't have it both ways. You can't pat the politicians on the back, break the rules, and then get all these perks.”

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Author:Anthony B Pinn
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“The poverty we see in America is now too widespread, and too complex, for easy fixes. But I do think we can reimagine many of our institutions and can create new ones in ways that would be effective. We could, for example, create social insurance systems, similar to social security, such as that we went through in 2008-9. We could create a financial transaction tax, oil profit taxes and a fairer estate tax system, and we could plow much of the revenue raised from these into job training programs, into better education infrastructure, into an expanded Earned Income Tax Credit.”

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Author:Sasha Abramsky
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“Donald Trump is the least unpopular thing about today's Republican Party. I mean, the idea that a Mitch McConnell or a Paul Ryan could say, "Let's toss Trump overboard and return to our program of plutocratic politics, health care removal, massive income tax cuts for the affluent, deregulation of finance" - if they cut loose from Donald Trump, it's like, you know, storm in channel, continent cut off. If they cut loose from him, they are much likelier to sink.”

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Author:David Frum
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“Politicians like to talk about the income tax when they talk about overtaxing the rich, but the income tax is just one part of the total tax system. There are sales taxes, Medicare taxes, social security taxes, unemployment taxes, gasoline taxes, excise taxes - and when you add up all of those taxes [many of which are quite regressive], and then you look at how they affect the rich and the poor, you essentially end up with a system in which the best off 20 percent of Americans pay one percentage point more of their income than the worst off 20 percent of Americans.”

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Author:David Cay Johnston
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“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.”

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Author:Ronald Reagan
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