A Quote by Scott Walker
You have phantom income each year. No money is being put in your pocket, but you have to take some money out of your pocket to pay Uncle Sam because the tax is paid based on accretion.
Related Quotes
Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer.
Assets put money in your pocket, whether you work or not, and liabilities take money from your pocket.
Senior executives can, after a fashion, get a portion of their pay tax-free. You defer part of your income and not have to pay taxes on it, and then when you retire you have the company buy a life insurance policy on you using that money. The company can deduct that money because it is a business expense, and the money will get paid out to your children or grandchildren when you die, so you have effectively given them your money and it's never been taxed.
If I'm owed money, but I say, 'Don't pay me, pay my cousin. Don't pay me, pay my charity,' you can do that, but then the IRS requires that you pay income tax on that. It's your income if you earned it and you directed where it went. If you exercised control over where the money went, you have to pay income tax on that.
You, as a wage earner have to pay your taxes every year on your income for that year. So if you have a one-time windfall that makes you a lot money you could end up in the top tax bracket. But if you're a corporation you are allowed to reach forward with deferrals for years. Over a 45 to 50 year period, you can balance out the winning years and the losing years in such a way that you pay very little tax, especially considering the time-value of the money.
I don't see how a lowering of VAT helps much, in terms of stimulus. VAT is a form of sales tax. It gets paid when you spend. A stimulus should put money in your pocket before you have actually spent the money.
The idea of money being something physical is almost entirely a fiction. Sure, you can go to your ATM and pull out cash. And you can feel cash in your back pocket and have some tangible comfort there - but in reality, the majority of your money is a number on a screen.
When you incline to have new clothes, look first well over the old ones, and see if you cannot shift with them another year, either by scouring, mending, or even patching if necessary. Remember, a patch on your coat, and money in your pocket, is better and more creditable, than a writ on your back, and no money to take it off.
With money we really fool ourselves. We are our biggest enemies with money and there are some things we can do about it. Automatic deductions are a wonderful thing. But ideally, you should wait until the end of the month, you can see how much extra money you had, and you should put that in your savings account. We don't do that too well, and if we did that, we would never save. So, what we do, is we take money out of our pocket into the saving account at the beginning of the month, take it outside of our control and as a consequence, we spend less and we save more.
The debt settlement company will direct you to stop paying your creditor and instead send the money directly to them each month. The company's goal is to demonstrate to your creditor that you don't have the money to pay up - that's your leverage. After a few months, the company will typically go to the creditor and say, "I'm holding X dollars on behalf of your customer. He doesn't have the money to pay you, so you should take this amount as a settlement or you'll end up with nothing." If the creditor wants to get paid badly enough, it will take the money.
You can pay Uncle Sam with all your overtime, is that all you get for your money?
Bankruptcy is a legal proceeding in which you put your money in your pants pocket and give your coat to your creditors.
Save money; never rely on other people to lend you money. We call it having 'walking the streets' money - money in your back pocket or bank account that belongs to you.
The safe way to double your money is to fold it over once and put it in your pocket.
Out of one pocket we pay billions of our tax dollars to support the production of expensive, disease-causing foods. Out of the other pocket, we pay medical bills that are too high because our overweight population consumes too much of these rich, disease-causing foods.
Raising the federal minimum wage won't just put more money in the pocket of low-income families - it also means they spend more money at the businesses in their neighborhoods. [Donald] Trump's against that as well.
Related Authors
Alexander Hamilton Quotes
American
Politician
Benjamin Franklin Quotes
American
Politician
Bernie Sanders Quotes
American
Politician
David Brooks Quotes
American
Politician
Hillary Clinton Quotes
American
Politician
Jill Stein Quotes
American
Politician
John F. Kerry Quotes
American
Politician
John McCain Quotes
American
Politician
Marco Rubio Quotes
American
Politician
Mitt Romney Quotes
American
Politician
Narendra Modi Quotes
Indian
Politician
Newt Gingrich Quotes
American
Politician
Paul Ryan Quotes
American
Politician
Rand Paul Quotes
American
Politician
Ron Paul Quotes
American
Politician
Ted Cruz Quotes
American
Politician