“Basically the tax reform ideas are to clean up the tax system and to eliminate the loopholes that only very few make use of, to eliminate the possibility of people making millions of dollars every year and not paying any tax at all through oil depletion allowances and things like that.” PeopleYearsIdeasUseMillionsPossibilityTaxesDollarsCleanOilReformAllowanceLoopholesTax SystemTax Reform Author:Warren Beatty
“If you look at the performance of the zero-income-tax-rate states and the highest-income-tax-rate states, I believe a large amount of their difference is due to taxes. Not only is it true of the last decade, but I took these numbers back 50 years. And, there's not one year in the last 50 where the zero-income-tax-rate states have not outperformed the highest-income-tax-rate states.” IfsYearsBelieveLooksStatesLastsI BelieveDifferencesNumbersAmountTaxesHighestPerformancesRateDuesDecadesIncomeZeroIncome Tax Author:Arthur Laffer
“There are 11 states in the United States that in the last 50 years instituted an income tax. So I looked at each of those 11 states over the last 50 years, and I took their current economic metrics and their metrics for the five years before they put in the progressive income tax... Every single state that introduced a progressive income tax has declined as an overall share of the U.S. economy.” YearsStatesLastsUnitedUnited StatesEconomyFiveShareEconomicTaxesCurrentsIncomeFive YearsProgressiveIncome TaxMetrics Author:Arthur Laffer
“We ought to thank President Bush. He made it a lot easier for people to do taxes this year. No job, no income tax this year.” PeopleYearsMadeJobsPresidentOughtEasierTaxesIncomeMade ItPresident BushIncome Tax Author:Jay Leno
“While it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.” YearsMeanIdeasGrowsPoorTerribleTaxesGainsPerformancesAccountsSellsSorryInvestingFundInvestorsDragPercentagesCapital GainsIndex FundsIndexing Author:William J. Bernstein
“In six short years, small business owners and family farmers will once again be assessed a tax on the value of their property at the time of their death, despite having paid taxes throughout their lifetime.” YearsValuesTaxesSixPaidPropertyLifetimeDespiteOwnersFarmersSmall BusinessBusiness OwnersSmall Business Owners Author:Doc Hastings
“I spent ten years in the private sector, actually learning how business works. I'm the governor of Ohio, and I inherited a state that was on the brink of dying. And we turned it all around with jobs and balanced budgets and rising credit and tax cuts, and the state is unified, and people have hope again in Ohio.” PeopleYearsStatesJobsCuttingDyingTenTaxesCreditBudgetsRisingBalancedGovernorsPrivate SectorOhioHaving HopeUnifiedTax CutsBalanced Budget Author:John Kasich
“I'm a different kind of Republican. I've introduced a five-year balanced budget. I've introduced the largest tax cut in our history. I stood for ten and a half hours on the Senate floor to defend your right to be left alone. But I've also gone to Chicago. I've gone to Detroit. I've been to Ferguson, I've been to Baltimore, because I want our party to be bigger, better and bolder...” WantYearsKindDifferentLeftHoursPartyHalfGoneFiveCuttingRepublicanTenTaxesBiggerBudgetsFive YearsChicagoSenateDifferent KindsBalancedDetroitLeft AloneTax CutsHalf HoursBaltimoreFergusonBalanced BudgetBigger Better Author:Rand Paul
“He [Barack Obama] talked about deficit reduction. This got me he was talking about how the deficit's being reduced faster in the last 60 years. That's because he's collected more taxes. That's like bragging that you paid your rent after you robbed a bank. It makes no sense.” YearsLastsTalkingTaxesPaidBarackFasterDeficitReductionBragging Author:Barack Obama
“I feel like I'm a professional. I've been a professional for a number of years. I'm a businesswoman and a tax lawyer and a professional and so that's how I treat other people.” PeopleFeelsYearsNumbersTaxesTreatsLawyer Author:Michele Bachmann
“Every year I write a tax advice column and I used to always make fun of that. One year, one of my favorite IRS commissioners, I think his name was Roscoe somebody, wrote that one of the most often-asked questions by taxpayers was, "How can I contribute more?" Well, I tell ya, ol' Roscoe's really been doing situps under parked cars again. I've heard a lot of people ask a lot of questions about taxes, but I never heard anybody say, "How can I, the ordinary person, send more money for no reason?"” PeopleThinkingWritingYearsWellsPersonsReasonUsedAsksNamesFunHeardAdviceCarTaxesOrdinaryMy FavoriteNo ReasonMore MoneyTaxpayersColumnsIrsOrdinary PersonYear OneCommissioners Author:Dave Barry
“This was years ago, I think during the early [Ronald] Reagan years. I came up with a plan that everybody just pay $8.95 in taxes. Cheating would be allowed. But the incentive to cheat wouldn't be nearly as great if you only had to pay the $8.95. There were a few people who would have to pay hundreds of millions of dollars under this plan. I think it was Mark Goodson and Bill Todman, the guys who do the quiz shows. But almost everybody else would be off really cheap.” PeopleIfsThinkingYearsShowsWould BeGuyPayMillionsPlansTaxesYears AgoMarkBillsDollarsCheatingCheatIncentivesQuizQuiz Show Author:Dave Barry
“I'm in favor of doing tax reform, but I think tax reform ought to be revenue neutral as it was back during the [Ronald] Reagan years. We've resolved this issue.” ThinkingYearsIssuesOughtTaxesFavorsReformRevenueTax Reform Author:Mitch McConnell
“When my mother makes out her income tax return every year, under occupation she writes, eroding my daughter's self-esteem.” WritingYearsSelfMotherSelf EsteemReturnTaxesDaughterIncomeEsteemMy DaughterOccupationScornIncome TaxMake OutTax Returns Author:Robin Roberts
“Its fundamentally unfair to have so much of the tax relief go to so few. And it is a 10-year tax plan rather than one, as mine, focused on the next two years, which in my opinion is the critical time to jumpstart the economy.” YearsTwoNextOpinionEconomyPlansMinesTaxesCriticalFocusedReliefTwo YearsUnfairJumpstart Author:Bob Graham
“Why is an accountant who knows the regulation and codes and takes advantage of tax loopholes that save you thousands of dollars each year good, But SEO's who take advantages of loopholes and flaws in Google's algorithm to bring you traffic that makes you thousands of dollars bad?” KnowsYearsTaxesAdvantageDollarsMarketingCodeOnlineFlawsRegulationGoogleTrafficAccountantsAlgorithmsLoopholesSeoOnline Marketing Author:Michael Gray
“You have phantom income each year. No money is being put in your pocket, but you have to take some money out of your pocket to pay Uncle Sam because the tax is paid based on accretion.” YearsPayTaxesPaidIncomePocketsUnclesNo MoneyPhantomsUncle Sam Author:Scott Walker
“I'm not the only taxpayer who has no idea what he's sending to the IRS. This year, only 28 percent of all Americans will prepare their own tax returns, according to a voice in my head that invents accurate-sounding statistics.” YearsIdeasVoiceReturnTaxesPercentNo IdeaStatisticsAccurateTaxpayersIrsTax ReturnsVoices In My Head Author:Dave Barry
“If I get married I get a tax break, if I have a kid I get a tax break, if I get a mortgage I get a tax break. I don't have any kids and I drive a hybrid, I think I should get a tax break. I'm trying to pay off my apartment so I have something tangible. I actually figured out if I paid off my place my reward would be that I would pay an extra four grand a year in taxes.” IfsThinkingShouldTryingYearsWould BeKidsPayBreakFourTaxesMarriedPaidRewardsExtrasApartmentTangibleMortgageHybridTax BreaksPaid Off Author:Bill Burr
“For the past three years, the CIVIX Student Budget Consultation has helped us to better understand the most pressing national issues for young Canadians. I am delighted to note that on key issues, such as balancing the budget, debt reduction, and lowering taxes, we stand in step with the thousands of students who participated in this initiative from coast to coast to coast. I want to thank the students and teachers for investing their time and energy in this worthwhile initiative. Their enthusiastic participation inspires great hope for Canada's future.” WantYearsPastYoungThreeEnergyStepsIssuesTeacherStudentsInspireKeysTaxesNotesInvestingDebtBudgetsCanadaThree YearsWorthwhileInitiativeParticipationCoastEnthusiasticDelightedReductionTime And EnergyTeacher And StudentGreat HopeConsultation Author:Kevin Sorenson
“So I'm not proposing anything radical. I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton. Back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot. ... At the same time, most people agree that we should not raise taxes on middle-class families or small businesses -- not when so many folks are just trying to get by.” PeopleShouldTryingYearsBelieveJobsClassMillionsEconomyMiddleTaxesRaisesAgreeBillsClintonRateFolksIncomeRadicalPlentyBudgetsMiddle ClassBootsSmall BusinessMillionaireIncome TaxBack WhenSurplusNew JobJust BelieveMiddle Class Family Author:Barack Obama
“Law Number XX: In any given year, Congress will appropriate the amount of funding approved the prior year plus three-fourths of whatever change the administration requests, minus 4-percent tax.” YearsLawThreeGivenNumbersAmountTaxesPercentCongressAdministrationAppropriatePlusFundingRequestApprovedMinus Author:Norman Ralph Augustine
“Give me a break - They say taxes are inevitable, like death. At least death doesn't come every year.” GivingYearsBreakTaxesGive MeInevitable Author:John Stossel
“God forbid that Americans earning, say, more than $1 million a year be asked to pony up a little more in taxes to support a larger military at a time when, we are told over and over, the country is in the middle of a war on terror. Millionaires can't be asked to sacrifice even just a little bit. No, they deserve to have their taxes cut while others fight and die.” YearsLittlesWarCountryDiesFightingBitsMillionsSupportCuttingSacrificeMiddleMilitaryTaxesLittle BitDeserveTerrorEarningMillionaireWar On TerrorTax CutsPonies Author:E. J. Dionne
“The biggest roadblock to middle-class economic advancement is that governments confiscate more than a third of all family income. Each year the average American taxpayer works 127 days - from January 1 until May 7 - just to pay taxes.” YearsMayGovernmentPayClassEconomicMiddleTaxesThirdsAverageIncomeMiddle ClassAdvancementTaxpayersJanuaryRoadblockJanuary 1 Author:Thomas DiLorenzo
“It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.” WayYearsRealSeemsInterestDifferencesPayEconomicPeriodsTaxesPercentAccountsIncomeSavingZeroInflationSavingsOutrageousWidowsIncome Tax Author:Warren Buffett
“Ronald Reagan cut taxes to raise the deficit to stop liberals in future years from increasing spending. Obama will raise spending to raise the deficit to stop conservatives in future years from cutting taxes. As he funds every liberal dream - from alternative energy production to infrastructure renovation to more federal revenue sharing - he will force a massive expansion in the size of government for a decade to come.” YearsDreamGovernmentEnergyForceCuttingTaxesRaisesSizeProductionsSpendingDecadesAlternativesFundMassiveExpansionRevenueInfrastructureDeficitRenovationAlternative EnergySize Of GovernmentEnergy Production Author:Dick Morris
“Who can dispute that the governments of the United States constitute the most voracious tax system in the history of mankind? In the year 2000, those governments succeeded in laying hands on more than $3 trillion - almost $11,000 each for the 275 million men, women, and children resident in the country. No other nation-state rakes in an amount even close to the U.S. total.” MenYearsChildrenCountryStatesHandsGovernmentNationsUnitedMillionsUnited StatesMankindAmountTaxesDisputesMen WomenResidentsRakesTax System Author:Robert Higgs
“Liberals cling to the idea that critics of welfare are motivated by greed or callous disregard for the less fortunate. In fact, during the twenty-five years that followed Lyndon Johnson's declaration of war on poverty, U.S. tax payers spent $3 trillion providing every conceivable support for the poor, the elderly, and the infirm. Private foundations spent scores of billions more, and private and religious charities even more. Nevertheless, as Ronald Raegan later quipped, 'in the war on poverty, poverty won.'” YearsIdeasWarFactsReligiousPoorPovertySupportFiveTaxesTwentiesFoundationCharityCriticsGreedBillionsFortunateWelfareFive YearsScoreMotivatedProvidingNeverthelessDeclarationElderlyJohnsonDisregardTwenty FiveCallousLess FortunateWar On PovertyDeclaration Of War Book:Do-Gooders: How Liberals Hurt Those They Claim to Help and the Rest of Us Source: Do-Gooders: How Liberals Hurt Those They Claim to Help and the Rest of Us
“If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%-or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening.” IfsWayYearsLongDoeEndsWould BeEyeDifferencesNumbersPayReturnPeriodsTaxesInvestmentWork OutOpeningContrastCompoundsMinusEye Opening Author:Charlie Munger
“It seems to me that instead of cutting taxes, we ought to be increasing the taxes to pay off the deficit, rather than let that thing build up to the point where our grandchildren's grandchildren are going to be paying for our period of time and our years at the helm.” YearsSeemsPayCuttingOughtPeriodsTaxesGrandchildrenDeficitHelm Author:Walter Cronkite
“The last man to try to run for president advocating a tax increase was Walter Mondale. He lost 49 states in 1984, and the "I'll raise your taxes" reputation haunted him all the way to Minnesota last year, where he lost his 50th state in the Senate election.” MenWayTryingYearsStatesRunningLastsLostPresidentTaxesIncreaseRaisesElectionReputationSenateLast YearAdvocatingMinnesotaTax IncreasesWalter Mondale Author:Dick Morris
“In 2013 Citigroup had profits of $6.4 billion in the United States. They paid no federal income tax and, in fact, received a rebate from the IRS of $260 million. That same year J.P. Morgan had $17.2 billion in profits in the U.S. They also paid no federal income tax. Do you think it's time for tax reform?” ThinkingYearsStatesFactsUnitedMillionsUnited StatesTaxesPaidProfitBillionsIncomeReformIncome TaxIrsTax Reform Author:Bernie Sanders
“All Democrats for the last 30 years have tried to stimulate the economy by giving 'tax cuts' to people who don't pay taxes.” PeopleGivingYearsLastsPayEconomyCuttingTaxesDemocratTax Cuts Author:Ann Coulter
“While I am not a scientist, and write primarily on economics, tax policy and budget issues, I have been fascinated over the years by Heartland's work on climate change.” WritingYearsHas BeensIssuesPolicyTaxesEconomicsScientistClimateClimate ChangeBudgetsFascinated Author:Peter Ferrara
“I think the American people are gonna be reasonable with what do you do with someone who has been in this country for 10 or 12 years who hasn't otherwise violated our laws - because if they're a criminal they can't stay. They'll have to undergo a background check, pay a fine, start paying taxes. And ultimately, they'll given a work permit and that's all they're gonna be allowed to have for at least 10 years.” PeopleIfsThinkingYearsHas BeensCountryLawGivenPayFineTaxesCriminalsBackgroundsChecksReasonablePermitPaying TaxesBackground Checks Author:Marco Rubio
“We [the USA] have a $16 trillion debt which these tax increases will do nothing to solve and you will have at least 200,000 less jobs next year than you have now. And the people who vote for that will be responsible for that decision and they will held accountable for that terrible public policy.” PeopleYearsJobsNextDecisionPolicyTerribleTaxesVoteIncreaseResponsibleSolveDebtUsaNext YearBeing ResponsiblePublic PolicyTax Increases Author:Marco Rubio
“The only reason the president insists on raising [tax] rates is because he knows it will destroy Republican unity, it will cause a complete fracture of the Republican majority in the house, it will hand him a Congress that he can then manipulate for the next two years at least because the Republicans will be neutered. ... This is entirely a political action, a way to get a surrender from the Republicans.” KnowsWayYearsTwoReasonHandsActionPoliticalNextHouseCausesPresidentRepublicanTaxesMajorityUnityRateCongressSurrenderTwo YearsManipulatePolitical ActionFractureRaising Taxes Author:Charles Krauthammer
“My financial adviser Ric Edelman...thinks the time to start educating people about money is when they are children. He's set up a retirement plan called the RIC-E-Trust that can provide retirement security. A $5,000 one-time tax-deferred investment at birth, with an average interest rate of ten percent compounded, means that a child would have $2.4 million when he or she is 65 years old. Who needs Social Security with that kind of nest egg?” PeopleThinkingNeedsYearsKindMeanChildrenSocialInterestMillionsPlansSecurityBirthTenTaxesPercentInvestmentRateFinancialAverageEggsRetirementOne TimeSocial SecurityNestsInterest RateAdviser Author:Cal Thomas
“According to an analysis by the Tax Policy Center, Donald Trump`s tax plan is going to increase the national debt by more than 50 percent over ten years.” YearsPlansPolicyTrumpTenTaxesPercentIncreaseDebtAnalysisNational Debt Author:Lawrence O'Donnell
“The [Donald] Trump plan would increase the national debt a little over a $1 trillion a year, the Trump plan would reduce taxes at all income levels with, of course, the biggest tax cuts going to the richest taxpayers as they always do.” YearsLittlesCoursesLevelsCuttingPlansTrumpTaxesIncreaseDebtIncomeTaxpayersTax CutsNational Debt Author:Lawrence O'Donnell
“Some people do rely too much on technology. Look, technology is wonderful and I love it. When I was in the UK and I had hit records I would also have a high tax bill at the end of the year, and that would be the time to buy up all the technology - it was write offs.” PeopleWritingYearsLooksEndsWould BeTechnologyRecordsToo MuchWonderfulTaxesBillsRelyHigh Taxes Author:Tony Visconti
“f the government is going to put money into the automobile sector, it should break up GM and Chrysler as a condition of financial aid, and it should be even-handed in its treatment of start-up firms like Tesla, Miles, Fisker, and others. It would be terrible to kill the entrepreneurs who have taken great risks to bring new automotive technologies to market by pumping tax dollars into the behemoths that have done everything wrong for the last years.” ShouldYearsDoneGovernmentWould BeLastsBreakTechnologyTakenRiskConditionsTerribleTaxesDollarsEntrepreneurFinancialAidsMilesFirmTreatmentLast YearAutomobileGreat RiskTeslaTax DollarsChryslerBehemothFinancial Aid Author:Denis Hayes
“To get started, track your expenses for a couple of months. Then you should be able to start filling in your estimated debits and deposits for the next few months. Once you get it rolling for a while, you will be able to see your budget for the upcoming months reflected in the estimated totals. You can even notice year-to-year trends, like bonuses, tax bills, etc. that come up routinely and it will help you budget accordingly.” ShouldYearsHelpingAbleNextMonthsCoupleTaxesBillsTrackCome UpBudgetsEtcExpensesTrendsRollingFillingBonusDepositsFilling InDebit Author:Michelle Singletary
“Balance the federal budget now, not 15 years from now, not 20 years from now, but now. And throw out the entire federal tax system, replace it with a fair tax, a consumption tax, that by all measurements is just that. It's fair.” YearsBalanceTaxesFairsBudgetsConsumptionMeasurementTax SystemFederal Taxes Author:Gary Johnson
“OK, so this pack - tax package includes about 50 tax breaks. None of them are new. They were all existing tax breaks. What this did was make them permanent. It gives some certainty for people when they're filing taxes that they don't have to wonder if Congress is going to renew them year after year.” PeopleIfsGivingYearsWonderBreakTaxesCongressCertaintyPermanentPacksPackagesFilingTax Breaks Author:Susan Davis
“Congress also did something new, which is, they delayed for two years two new taxes - one on medical devices and one on high-end health insurance plans. Those taxes are supposed to help pay for President Obama's health care law, but they're really unpopular.” YearsTwoEndsHelpingCareLawPresidentPayPlansTaxesCongressMedicalHealth CareTwo YearsSomething NewDevicesPresident ObamaDelayed Author:Susan Davis
“So on the demand side [for energy], there have been a variety of policies that globally have been way over $50 billion a year of tax credits, raising the price of electricity through things like renewable portfolio standards, so the total amount of money that's gone into sending a price signal to push up demand versus what would happen without it has been gigantic.” WayYearsHas BeensHappensEnergySidesGonePolicyAmountDemandTaxesStandardsCreditBillionsVarietyElectricitySignalsVersusPortfoliosOver 50Push Ups Author:Bill Gates
“He [Donald Trump] said in the debate - he said, gosh, I'm being audited for two years. Then he said three years. Then he said maybe five years. Listen, if there's a problem in his taxes, the voters have a right to know, because come September, October, the general election, folks in the media are going to make a heyday about any problems in his taxes.” IfsKnowsYearsSaidTwoProblemThreeFiveMediaTrumpTaxesElectionFolksDebateFive YearsTwo YearsVotersThree YearsSeptemberOctoberGeneral ElectionsHeyday Author:Ted Cruz