A Quote by Peter George Peterson
Many Republicans have what I call a 'tax-cut syndrome' where they have never seen a tax cut they didn't really like and didn't see a tax increase they didn't hate and do everything they could to block.
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Whenever I'm asked if the Trump tax cut is for the rich, I say yes. It is a tax cut for the rich. It is a tax cut for the middle class. It is a tax cut for small businesses. It is a tax cut for the Fortune 100.
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.
I do think that Republicans are flirting with their tax cut, which has always been the narcotic of Republicans, that they in fact have to at some point, with any remote pretense of candor, abandon any pretense of a balanced budget.I mean, they talk about - because they are going to finance the tax cut by tax cuts. That's how they're going to do it. And I do think that the will is there right now in the Congress to act. I think they will be as close to unity as you will see on Capitol Hill this year.
Look, only in Washington is not raising taxes considered a tax cut. Nobody's getting a tax cut here. We're not cutting taxes. We're preventing tax increases from occurring.
Any Democrat who squirms on the tax-cut issue in the primaries has no chance ' zero ' to win the nomination. Each will have to take the “pledge” to oppose the Bush tax cuts. Thus, Bush will have succeeded in creating a situation where anyone who can win the nomination can't win the election. Democrats are not about to nominate anyone who backs the tax cut, and Americans are not going to elect anyone who favors a tax increase.
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.
A tax cut to compensate for a tax increase is not a cut - it's a con.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
My healthcare plan puts more money into average families' pockets than the Bush tax cuts... He's got a lousy tax cut. It's only good for the super wealthy. I've got a tax cut that will help ordinary people.
The reality is (Clinton's) so-called tax cut is basically giving money to people who largely don't pay taxes, so that it's really spending rather than a tax cut, ... This Week.
We cut tax exemptions in 1986, it was the most admired tax reform in U.S. history. Congress and the president worked together then to eliminate scores of loopholes and exemptions and deductions; this made taxes much simpler, and allowed a major cut in tax rates.
Not continuing a tax cut is not technically a tax increase.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents?
As president, I would promote a Fair and Flat Tax plan, known as the 'EZ Tax.' My tax plan would be the largest tax cut in American history, reforming individual, business, and worker taxes.
Instead of giving corporations a big tax cut, let's give the middle class a real, permanent tax cut.
Assuming that a tax increase is necessary, it is clearly preferable to impose the additional cost on land by increasing the land tax, rather than to increase the wage tax - the two alternatives open to the City (of Pittsburgh). It is the use and occupancy of property that creates the need for the municipal services that appear as the largest item in the budget - fire and police protection, waste removal, and public works. The average increase in tax bills of city residents will be about twice as great with wage tax increase than with a land tax increase.
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