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Taxes Quotes

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Taxes Quotes

“Land taxes is the thing. They got so high that there is no chance to make anything. Not only land but all property tax. You see in the old days, why the only thing they knew how to tax was land, or a house. Well, that condition went along for quite awhile, so even today the whole country tries to run its revenue on taxes on land. They never ask if the land makes anything. "It's land ain't it? Well tax it then."”

“They have passed the big inheritance tax, and that gets you when you are gone. You used to could die and be able to beat taxes, but not now. The undertaker don't go over your body as carefully as the assessor does your accumilated assets, and he gets his before the undertaker. They have it on these big fortunes now where they pay as high as 60 to 70 percent of what they leave. That's mighty expensive dying when it runs into money like that, and you won't see 'em dropping off as casually as they have been.”

“I think the knowledge about how legislation really affects small businesses is extremely valuable. If you haven't run a small business, then you don't have this kind of knowledge about how a regulation passed or taxes increased affects your bottom line. If you recognize that every new regulation takes that much more time to comply with, requires that many more employees, then it really gives you that foundational basis to make those decisions.”

“There are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.”

“So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating war in Afghanistan and maintaining over 850 military bases around the world, the administration has run up the national debt that Smith decried. By shifting the tax burden off property and off rent-seeking monopolies - above all, off the financial sector - this policy has raised America's cost of living and doing business, thereby undercutting its competitive power and running up larger and larger foreign debt.”

“Gay marriage is a tricky issue for the Democrats due to the fact that - like taxes, defense and education - they are forced to lie about their position when running for office. In other words, Democrats are gay marriage supporters trapped in the bodies of candidates who oppose gay marriage. And no issue-reassignment surgery can help them.”

“Our first and most pressing problem is how to do away with warfare as a method of solving conflicts between national groups or between groups within a society who have different views about how the society is to be run. If you look back, you will see that warfare was an invention, just as ways of handling government or taxes are inventions. You will see, too, that once people use an invention they go on using it until they find another which they think is superior.”

“I was at the 1976 Republican Convention in Kansas City. I was running 'Nobody for President' at the time. I printed up these press releases and handed them out to the crowd at the Kemper Arena. 'Nobody keeps campaign promises.' 'Nobody lowers your taxes.' 'Nobody should have that much power.' 'Nobody is in Washington working for you.'”

“The rich people are apparently leaving America. They're giving up their citizenship. These great lovers of America who made their money in this country-when you ask them to pay their fair share of taxes they run abroad. We have 19-year old kids who lost their lives in Iraq and Afghanistan defending this country. They went abroad. Not to escape taxes. They're working class kids who died in wars and now billionaires want to run abroad to avoid paying their fair share of taxes. What patriotism! What love of country!”

“Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are later bequeathed. To the extent that the long-run uptrend in stock prices continues, switching from security to security involves realizing capital gains that are subject to tax. Taxes are a crucially important financial consideration because the earlier realization of capital gains will substantially reduce net returns.”

“My wife says, and I agree with her, that what would be really great for Maine would be to legalize dope completely and set up dope stores the way that there are state-run liquor stores. You could get your Acapulco gold or your whatever it happened to be - your Augusta gold or your Bangor gold. And people would come from all the other states to buy it, and there could be a state tax on it. Then everybody in Maine could have a Cadillac.”

“It is one of the many ironies of this period that, at a time when the intelligentsia were excoriating Mellon for tax-evasion, and contrasting the smooth-running Soviet planned economy with the breakdown in America, he was secretly exploiting the frantic necessities of the Soviet leaders to form the basis of one of America's most splendid public collections”

“Ask a fellow if he favors organized prayer in the public schools. If he says 'No' he's a liberal. If he says 'Yes' he's a conservative. If he says, 'Public schools? The Constitution grants the government no power to run any mandatory tax-funded youth propaganda camps,' you have your hands on the wily libertarian.”

“Every candidate running for president has got to answer the following very simple question: At a time when we need to address the planetary crisis of climate change, and transform our energy system away from fossil fuels and into energy efficiency and sustainability, should we continue to give $135 billion in tax breaks and subsidies over the next decade to fossil fuel companies?”

“The oil industry is hardly free to operate as efficiently as it could or to be as responsive to consumer demands as it would like. It has become, in essence, a quasi-state-run enterprise, because it cannot drill, transport, refine, and store fuel without receiving government permission, complying with government regulations, and paying taxes at every level or production.”

“With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.”

“The Obama administration seems to be following what might be called 'the Detroit pattern increasing taxes, harassing businesses, and pandering to unions. In the short run, it got mayors re-elected. In the long-run, it reduced Detroit from a thriving city to an economic disaster area, whose population was cut in half, as its most productive citizens fled.”

“The lawyers have escaped most criticism [and undeservedly so]. The tax shelters [were approved by lawyers, who got paid huge commissions to do so] and every miscreant had a high-falutin' lawyer at his side. Why don't more law firms vote with their feet and not take clients who have signs on them that say, "I'm a skunk and will be hard to handle?" I've noticed that firms that avoid trouble over long periods of time have an institutional process that tunes bad clients out. Boy, if I were running a law firm, I'd want a system like that because a lot of firms have a lot of bad clients.”

“Then there was communism's weak-tea sister, socialism. Socialists maintained that we shouldn't take all the money away from all the people since all the people don't have money. We should take all the money away from only the people who make money. Then, when we run out of that, we could take more money from the people who...hey, wait! Where'd you people go? What do you mean you're "tax exiles in Monaco?"”

“We are all used to paying a sales tax when we buy things - almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way.”

“I kid the Republicans, with love. I feel bad for them. They got nobody for next time. Who are they gonna run? Sarah Palin, reading off her hand. Did you see that? You saw this? She wrote "tax cuts" on her hand. A Republican so stupid she has to be reminded of the one thing - Tax cuts! This is like if you saw the coyote's paw and it said "Road Runner".”

“The tax incentives are things the music business can emulate. If I own Yesterday by the Beatles and I go to a bank and try to borrow $10,000 and use that song as collateral, they wouldn't know what to do. They would run me out of the bank. Whereas if we get specialized people who know how to appraise the value of intellectual property like songs, catalogs and master recordings, they know how to put some type of value on it. They have this in Nashville and Los Angeles. New Orleans is just starting to get it.”

“I'll give you a simple formula for straightening out the problems of the United States. First, you tax the churches. You take the tax off of capital gains and the tax off of savings. You decriminalize all and tax them same way as you do alcohol. You decriminalize . You make gambling legal. That will put the budget back on the road to recovery, and you'll have plenty of tax revenue coming in for all of your social programs, and to run the army.”

“Justice [Sonia]Sotomayor said, "Let's talk - you want to talk about the tax power."And I got like a 10-minute run on the tax power. And, boy, was I glad I did because I was able to get across this idea that, yes, this is a narrower ground on which you can affirm it. And I think everybody agrees. I think even the dissenting justices ultimately in the case agreed that, if Congress had expressly called it a tax, it would be indisputably constitutional.”

“The focus, to my mind, is to make sure that Donald Trump does not become president of the United States. I think by temperament he is unqualified to be president. I think his views - you have a guy who's running for president who rejects science, doesn't even believe climate change is real, let alone wants to do something about it, wants to give hundreds of billions of dollars in tax breaks to the top two-tenths of one percent.”

“I thought you liberals cared about people, but here you're perfectly content to get them addicted to tobacco and make them pay taxes through the nose and continue to pay taxes through the nose and raise their taxes. And then you try to make 'em think you care about 'em by running PSAs telling them how they shouldn't smoke and how they should quit. You're exactly right. If they really cared, they would ban the product, but they can't, because the revenue from tobacco taxes - I'm not kidding you - funds children's health care programs, and a number of other things as well.”

“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.”