A government debt is a government claim against personal income and private property - an unpaid tax bill.
— Hans F. Sennholz
Most Powerful Personal Income Tax quotations
You know, gentlemen, that I do not owe any personal income tax.
But nevertheless, I send a small check, now and then, to the Internal Revenue Service out of the kindness of my heart.
Withdraw from the Canada Pension Plan.
.. Collect our own revenue from personal income tax... Resume provincial responsibility for health-care policy. If Ottawa objects to provincial policy, fight in the courts... [E]ach province should raise its own revenue for health... It is imperative to take the initiative, to build firewalls around Alberta.
The income tax was devised to give lawyers and certified public accountants business. Few persons can make head, tail, or middle out of it. Einstein admitted he couldn't.
[High income tax rates] not only check consumption but discourage investment and encourage...the avoidance of taxes [rather] than the production of goods.[...]Our present tax system...reduces the financial incentives for personal effort, investment, and risk-taking.
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.
The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrence to private initiative which are imposed by our present tax system, and this administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes to be enacted and become effective in 1963.
An across-the-board, top-to-bottom cut in personal and corporate income taxes .
.. to expand the incentives and opportunities of private expenditures.
We very much hope that as we get growth that we can reduce the burden of taxation, that we can reduce income tax and increase the amount of genuine free enterprise and business enterprise... This is going... toward the restoration of the personal responsibility, the independence, with every man a property owner, every man a capitalist.
Make no mistake, the point of cutting the personal income tax and the capital gains cut is to send an unmistakable message to business leaders.
The death tax destroys family businesses and stifles investment that leads to increases in jobs and personal income. As a result, 70 percent of family-owned businesses are not passed on to the next generation and 87 percent do not make it to the third generation.
Higher projected corporate and personal income tax receipts and lower public debt charges.
I don't like the income tax. Every time we talk about these taxes we get around to the idea of 'from each according to his capacity and to each according to his needs'. That's socialism. It's written into the Communist Manifesto. Maybe we ought to see that every person who gets a tax return receives a copy of the Communist Manifesto with it so he can see what's happening to him.
My personal taxes are 53% of my taxable income.
That's 36% on the federal level and 17% for state and local.
I guess you will have to go to jail. If that is the result of not understanding the Income Tax Law, I will meet you there. We shall have a merry, merry time, for all our friends will be there. It will be an intellectual center, for no one understands the Income Tax Law except persons who have not sufficient intelligence to understand the questions that arise under it.
