A Quote by Anthea Turner
Maybe, instead of paying so much in tax, the very rich could be incentivised to help their local community and young people who do not have a home.
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Local tax increases can cause high-net-worth individuals to move, tax experts said; tax avoidance and tax arbitrage are multitrillion-dollar affairs, and rich people are sensitive to tax rates. But many of the people who move when their home state raises taxes are close to retirement anyway.
We were giving advice for the single-worst idea to come forward from a group that's been rife with them, it would be this: The idea is this: Let's make the tax code of America better for very rich people; let's give substantial tax relief to the richest people we can find. Forget about the person making $40,000 a year and paying Social Security payroll tax. Forget about all those other people paying income tax; we're here to give tax relief to the richest 2% of America.
I am hoping that by breaking barriers myself, I can inspire a whole new generation of people to think 'you know what, maybe I can, not just run a country, maybe I could start a company, maybe I could do something in my own local community to make a positive change.'
It used to be that we taxed property - zapped farmers basically. And there were very rich people who didn't pay that much tax. So in 1913, they put in the income tax. It was incredibly popular. The tax we love to hate today.
When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
If corporations and rich people who made fortunes out of us during the boom are not paying their fair share then reform the tax system and close down the tax havens.
In 1984, Jean Vanier invited me me to visit L'Arche community in Trosly, France. He didn't say "We need a priest" or "We could use you." He said, "Maybe our community can offer you a home." I visited several times, then resigned from Harvard and went to live with the community for a year. I loved it! I didn't have much to do. I wasn't pastor or anything. I was just a friend of the Community.
My passion for service came from my parents, and my community involvement began at a very young age, when I volunteered with the local Chamber of Commerce in Lowell, MA to help revitalize our city.
I was shocked to see that some of the very wealthiest people in the country have organised their tax affairs, and to be fair it's within the tax laws, so that they were regularly paying virtually no income tax. And I don't think that's right.
I am for deporting all recent unattached illegals. I am for a local citizen panel to consider certification of those who have been here 25 years and have family and community and have been law-abiding and tax-paying.
I wanted to tell her everything, maybe if I'd been able to, we could have lived differently, maybe I'd be there with you now instead of here. Maybe... if I'd said, 'I'm so afraid of losing something I love that I refuse to love anything,' maybe that would have made the impossible possible. Maybe, but I couldn't do it, I had buried too much too deeply inside me. And here I am, instead of there.
High tax rates in the upper income brackets allow politicians to win votes with class warfare rhetoric, painting their opponents as defenders of the rich. Meanwhile, the same politicians can win donations from the rich by creating tax loopholes that can keep the rich from actually paying those higher tax rates - or perhaps any taxes at all. What is worse than class warfare is phony class warfare. Slippery talk about 'fairness' is at the heart of this fraud by politicians seeking to squander more of the nation's resources.
Yes, the rich will find ways to avoid paying more taxes, courtesy of clever accountants and tax attorneys. But this has always been the case, regardless of where the tax rate is set.
I love to tell how I'm suffering because one percent we're paying 25 percent of the total. We're not paying 25 percent of the total taxes on individuals. We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends. They take from the woman who comes in and takes the wastebaskets out.
The truth is, however rich people get, they hate paying tax. Some live abroad for a year, or years at a time just to avoid it. Bizarre really - desperate economic migrants are driven to leave their homeland because of poverty; tax exiles are driven overseas by their wealth.
I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life. Now, that's crazy. And if you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or whomever around their office. On average. And so I think that actually people in my situation should be paying more tax. I think the rest of the country should be paying less.
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