The difficulty for Mr. Obama will be when the public sees where his decisions lead - higher inflation, higher interest rates, higher taxes, sluggish growth, and a jobless recovery.— Karl Rove
Most Powerful Tax Rates quotations
Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.
I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
The real goal should be reduced government spending, rather than balanced budgets achieved by ever rising tax rates to cover ever rising spending.
We are all are equal, but some pay higher tax rates than others.
Revenues should be increased not by increasing the tax rates on the individual but by building a bigger economy for everybody.
In Greece, the unemployment rate has risen to 22%.
The solution to the problem was to raise taxes on the rich, according to the Greek president Barack Obama-opolis.
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 jobs or enough profits.
It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.
The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped. What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
The biggest and most deadly 'tax' rate on the poor comes from a loss of various welfare state benefits - food stamps, housing subsidies and the like - if their income goes up.
Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
Look around. Oil companies guzzle down the billions in profits. Billionaires pay a lower tax rate than their secretaries, and Wall Street CEOs, the same ones the direct our economy and destroyed millions of jobs still strut around Congress, no shame, demanding favors, and acting like we should thank them. Does anyone here have a problem with that?
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.
The whole trouble with the Republicans is their fear of an increase in income tax, especially on higher incomes. They speak of it almost like a national calamity. I really believe if it come to a vote whether to go to war with England, France and Germany combined, or raise the rate on incomes of over $100,000, they would vote war.
The billionaires pay an effective tax rate lower than nurses or truck drivers.
That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay.
We owe to every businessperson and worker in America the best environment in the world to create a job. We owe that to American business. 35 percent corporate tax rate is the second highest in the world. We need to lower it so they don’t leave.
The tax rate increases reduce economic growth;
they shrink the pie; they cause more poverty, more despair, more unemployment, which are all things government is trying to alleviate with spending.
High tax rates that people don't actually pay do not bring the government as much revenue as lower tax rates that they do pay.
Our tax policies, the tax relief and reform we passed in 2003 and 2005, helped get government out of the way of America's entrepreneurs, and our unemployment rate is now lower than it was in the 1970s, the 1980s, and the 1990s.
Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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.
What the issue here is, you get rid of all the conservative orthodoxy about capital gains, marginal tax rate, supply side economics, you just throw all that out the window, limited government and you just embrace the sheer and raw politics of resentment that have been bubbling the whole time and that`s what you get. You get Donald Trump.
High tax rates are followed by attempts of ingenious men to beat them as surely as surely as snow is followed by little boys on sleds.
Legislation to create a new 10 percent tax bracket, reduce the marriage penalty, cut the tax rate on dividends and capital gains, and increase the child tax credit have been essential elements in this economic expansion.
Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
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.
Economic growth, profitability, prosperity, jobs, increased jobs, increased wages, they're able to get that tax rate down to 15% and we're gonna call it tax relief, not tax breaks, not tax loopholes. It's important to control and reclaim the language here.
If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.
In a perfect world we would bring corporate tax rates down to 25% or less so we can get competitive in the world economy. Ultimately, I would love to see a flat tax.
Here's the problem if you keep raising tax rates: You slow down economic growth.
I forget what the relevant American rate is, but I can tell you that our goal is to have a combined federal-provincial corporate tax rate of no more than 25 percent. We're on target to do that by 2012. We will have significantly - by a significant margin the lowest corporate tax rates in the G-7, and that's our - our government's objective.
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.
In addition to a soaring stock market, 6.
6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years.
In the European context tax rates are high and government expenditure is focused on current expenditure. A "good" consolidation is one where taxes are lower and the lower government expenditure is on infrastructures and other investments.