“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.” WorldCountryPresidentWealthShareTaxesWesternRateIncome Tax Author:T.R. Reid
“The income tax only taxed the Rockefellers, the Morgans and the Vanderbilts. It was aimed at the top 4 percent, and the top rate then in 1913, was 7 percent. Woodrow Wilson had a big ceremony and said, "I'm delighted to be president at the creation of this popular new tax."” PresidentCreationTaxesRateCeremonyIncome Tax Author:T.R. Reid
“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.” WorldWarCountryGuyEasyRichTaxesMovedPropertyRateWar Of The WorldsWorld War IiWorld War IIncome TaxPopulist Author:T.R. Reid
“The higher the rate, the more interest there is in avoiding the tax. Either you move or you shift your profits overseas, as American corporations have proven very good at doing.” MovingInterestTaxesRateVery GoodAvoiding Author:T.R. Reid
“There's a tradeoff. Yeah, I lose the deduction that I really like, but my tax rate is going to go down, and I don't have to fill out that form anymore. It's much simpler, rates are lower, and that tradeoff has worked in many countries. Many countries have just cleaned house of all those exemptions in order to provide lower rates, and people buy it.” PeopleCountryHouseTaxesRate Author:T.R. Reid
“The Democrats have so corrupted our understanding of economics and productivity that lowering tax rates is now considered to be some kind of sop to the rich. I mean, it's just profound to me, the damage inflicted on this country by the Democrats in their pursuit of perpetual power.” KindMeanCountryUnderstandingRichTaxesProfoundDemocratRateProductivity 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
“We're trying our best to develop sort of strategies. We have already turned into law a labor reform law that will allow for more opportunities to ensue. We have also established a permits law that will facilitate permits in Puerto Rico. We are about to roll out a comprehensive tax reform that will enhance the base and will reduce the rates in Puerto Rico.” TryingOpportunityTaxesLaborStrategyRatePuerto Rico Author:Ricky Rossello
“When consumers purchase more goods, plants use more of their capacity, men are hired instead of laid off, investment increases, and profits are high. Corporate tax rates must also be cut to increase incentives and the availability of investment capital.” MenCuttingTaxesPlantInvestmentRate Author:John F. Kennedy
“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
“Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now.” LongRunningTodayGrowthBreakCuttingEconomicTaxesRateEconomic GrowthParadoxical Author:John F. Kennedy
“When you think of policies that are going to address inequality of wealth, you have to be very thoughtful about what economists call "incidence of taxes." If most of the savings is being done by capitalists, and you tax the return on capital, then they will have less to invest. That would mean, over the long run, that the rate of interest would go up. That would therefore undo some of the intent to lower the income of capitalists.” ThinkingMeanLongDoneRunningInterestWealthPolicyTaxesRateInequalityThoughtfulCapitalistEconomist Author:Joseph Stiglitz
“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
“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
“I want to end tax dumping. States that have a common currency should not be engaged in tax competition. We need a minimum tax rate and a European finance minister, who would be responsible for closing the tax loopholes and getting rid of the tax havens inside and outside the EU. It is also clear that we have to reach common standards in our economic and labor policies. We cannot continue to just talk about technical details. We have to inspire enthusiasm in Germany for Europe.” CommonEconomicPolicyInspireTaxesLaborResponsibleCompetitionRateFinanceEnthusiasmCurrencyBeing Responsible Author:Martin Schulz
“I'd like to help struggling homeowners who can't pay their mortgages, I'd like to invest in our crumbling infrastructure, I'd like to reform the tax system so multimillionaires can't pretend their earnings are capital gains and pay at the rate of 15 percent. I'd like to make public higher education free, and pay for it with a small transfer tax on all financial transactions. I'd like to do much more - a new new deal for Americans. But Republicans are blocking me at every point.” HelpingStruggleRepublicanTaxesRateFinancialBlockMortgageHigher EducationHomeowners Author:Barack Obama
“When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.” PeopleRealTodayUnderstandingRichTaxesAppreciateRateBeing TrueSophisticated 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
“More and more political analysts and weak-kneed politicians are advising the historically pro-life Republican Party to abandon its pro-life stance for political gain. My first response is that if you cannot trust a party on the value of defending human life, how can you trust it on issues like marginal tax rates?” IfsFirstsHumansPoliticalValuesPartyIssuesPoliticianRepublicanTaxesGainsWeakResponseRateHuman LifeAbandonRepublican PartyPro LifeStanceAnalysts Author:Gary Bauer
“The Democrats are obsessing about raising tax rates, while the GOP talks about closing loopholes.” TaxesDemocratRateClosingGopLoopholesObsessingRaising Taxes Author:Bob Beauprez
“Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.” WantStatesIndividualTaxesPercentRateLocalsCorporateDamageSmall Business Author:Grover Norquist
“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
“Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.” KnowsTaxesHistoricalRateIncomeFamiliarDataRevenueIncome TaxIrs 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
“It's really a question of fairness and what kind of country we're going to live in. There are 22,000 people making over $1 million. They're paying an effective tax rate in the teens. As Warren Buffett said, he pays less in taxes effectively than his secretary does. That's not right.” PeopleKindDoeSaidCountryPayMillionsTaxesRateTeensFairnessSecretaryBuffett Author:David Plouffe
“By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.” LevelsClassCuttingMiddleTaxesClaimsDemocratRateMiddle ClassTax Cuts Author:John Podhoretz
“I will promote savings and investment by maintaining the 15% rate on capital gains and dividends. I will eliminate the tax entirely for those with annual income below $200,000.” TaxesGainsInvestmentRateIncomeSavingMaintainingSavingsAnnualsDividendsCapital GainsSavings And Investment Author:Mitt Romney