quote by William J. Bernstein

For the taxable investor, indexing means never having to say you're sorry.

— William J. Bernstein

Simplistic Taxable quotations

The biggest industrial sector next to real estate is oil, gas and other mineral resources. They don't report any taxable income, because if you depict yourself as earning a profit, you have to pay a tax on it. So, it's all about what accountants choose to declare as profit.

Nobody prefers to earn income any more, because that's taxable.

Rich people prefer to make capital gains.

Wishes, like castles in the air, are inexpensive and not taxable.

When I became governor, spending actually increased 28 percent my first term.

Revenue increased 42 percent my first term without raising anybody's taxes. We did it because we had more taxpayers with more taxable income. That's how you get the revenue up. We did that without raising anybody's taxes.


Only in Washington would death be considered a taxable event.

Death just shouldn't be a taxable event.

I'd make an educated guess that 20 to 25 percent of the taxable property in the U.S. is Church-owned.In a recent book, Church Wealth and Business Income, it was estimated that this property -all of it tax-exempt -is worth upwards of 80 billion dollars. I know that's a fantastic, unbelievable figure, but there's every reason to believe that it's on the conservative side; and this amount is increasing yearly at a geometric rate.

It is very hard, if not impossible," he wrote in his study, "to justify active management for most individual, taxable investors, if their goal is to grow wealth." And he said that those who still insist on an actively managed fund are almost certainly "deluding themselves.

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.


Nearly all educational expenditure should be considered a capital outlay.

Education provides a future return in the form of enhanced taxable income and an enhanced quality of life.

Dying should not be a taxable event.

Raising the traditional and early retirement ages will mean extending workers' taxable earning years, fueling economic growth and putting a dent in our unfunded-liabilities crisis by delaying payouts.

Only in Washington would death be considered a taxable event.

[a cynical but perhaps fair assessment]

My personal taxes are 53% of my taxable income.

That's 36% on the federal level and 17% for state and local.

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