A Quote by Harold Ford, Jr.
If you are born into a family below the national median income, we provide you with an additional $500, and for every contribution made to a child's account below the national median income, we match it dollar for dollar - the federal government will.
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I was raised by a single mother. We were definitely below the median income of our area.
There will be a debate on Firing Line between Buckley and Gore Vidal on the proposition: "This nation cannot survive as long as the income of 50 percent of the population is below the median." Mr. Vidal will take the affirmative.
While easy to understand, the income-based poverty line has limitations. Specifically, the median monthly household income measures only income without considering assets.
A tax cut means higher family income and higher business profits and a balanced federal budget....As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance.
One of the most ridiculous defenses of foreign aid is that it is a very small part of our national income. If the average American set fire to a five-dollar bill, it would be an even smaller percentage of his annual income. But everyone would consider him foolish for doing it.
All the equity investors, in total, will surely bear a performance disadvantage per annum equal to the total croupiers' costs they have jointly elected to bear. This is an inescapable fact of life. And it is also inescapable that exactly half of the investors will get a result below the median result after the croupiers' take, which median result may well be somewhere between unexciting and lousy.
Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U.S. is now 45 percent socialist.
The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income.
In reality, every time the government takes an additional dollar in taxes out of someone's pocket, it's a dollar that person will not be able to spend or invest. When government spending goes up, private spending goes down. There is no net effect. No wealth creation.
I think, and I mean this sincerely, I was raised humbly. We were a lower middle income family and a household that was scrimping by at times. We were watching the dollar, stretching the dollar, and coupons. It was all those things.
Poverty is a national issue and needs a federal response. After all, U.S. federal government policies helped produce massive income inequality by lopsided breaks for the super wealthy.
Most Americans living below the official poverty line own a car or truck - and government entitlement programs seldom provide cars and trucks. Most people living below the official poverty line also have air conditioning, color television, and a microwave oven - and these too are not usually handed out by government entitlement programs.
Cell phones and other electronic devices are by no means unheard of in low-income neighborhoods, where children would supposedly go hungry if there were no school-lunch programs. In reality, low-income people are overweight more often than other Americans.
If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.
The proposed constitution, therefore, even when tested by the rules laid down by its antagonists, is, in strictness, neither a national nor a federal constitution; but a composition of both. In its foundation it is federal, not national; in the sources from which the ordinary powers of the government are drawn, it is partly federal, and partly national; in the operation of these powers, it is national, not federal; in the extent of them again, it is federal, not national; and finally, in the authoritative mode of introducing amendments, it is neither wholly federal, nor wholly national.
Since the end of the 1970s, something has gone profoundly wrong in America. Inequality has soared. Educational progress slowed. Incarceration rates quintupled. Family breakdown accelerated. Median household income stagnated.
So every dollar of income that I have that is potentially taxed away is a dollar I can't put in my company to create a job. My entire company is around job creation.
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