A Quote by Albert Einstein
This is too difficult for a mathematician. It takes a philosopher. The hardest thing in the world to understand is the income tax.
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This is a question too difficult for a mathematician. It should be asked of a philosopher"(when asked about completing his income tax form)
The hardest thing to understand in the world is the income tax.
The only thing that hurts more than paying an income tax is not having to pay an income tax.
Let's take the nine states that have no income tax and compare them with the nine states with the highest income tax rates in the nation. If you look at the economic metrics over the last decade for both groups, the zero-income-tax-rate states outperform the highest-income-tax-rate states by a fairly sizable amount.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
In 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS.
Most of them benefit businesses, things like research and development tax credits. But people will also benefit, too, from things like - the earned income tax credit and the child tax credit have been made permanent. They predominantly help lower-income families.
What you do by having an income tax rate reduction across the board, you really provide great incentives for people to work, produce, and increase output. So I would support a carbon tax in replacement for a progressive income tax.
We will attract more people to Kentucky by lowering our income tax rate. In fact, lowering the income tax rate is the single most important thing we can do to create opportunity.
If you look at the performance of the zero-income-tax-rate states and the highest-income-tax-rate states, I believe a large amount of their difference is due to taxes. Not only is it true of the last decade, but I took these numbers back 50 years. And, there's not one year in the last 50 where the zero-income-tax-rate states have not outperformed the highest-income-tax-rate states.
There is the general belief that the corporation income tax is a tax on the "rich" and on the "fat cats." But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.
The income tax is a twentieth-century socialist experiment that has failed. Before the income tax was imposed on us just 80 years ago, government had no claim to our income. Only sales, excise, and tariff taxes were allowed.
Our federal income tax law defines the tax y to be paid in terms of the income x; it does so in a clumsy enough way by pasting several linear functions together, each valid in another interval or bracket of income. An archeologist who, five thousand years from now, shall unearth some of our income tax returns together with relics of engineering works and mathematical books, will probably date them a couple of centuries earlier, certainly before Galileo and Vieta.
I guess you will have to go to jail. If that is the result of not understanding the Income Tax Law, I will meet you there. We shall have a merry, merry time, for all our friends will be there. It will be an intellectual center, for no one understands the Income Tax Law except persons who have not sufficient intelligence to understand the questions that arise under it.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.
It was not until the Abraham Lincoln administration that an income tax was imposed on Americans. Its stated purpose was to finance the war, but it took until 1872 for it to be repealed. During the Grover Cleveland administration, Congress enacted the Income Tax Act of 1894. The U.S. Supreme Court ruled it unconstitutional in 1895. It took the Sixteenth Amendment (1913) to make permanent what the Framers feared -- today's income tax.
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