A Quote by Austan Goolsbee
We've gone through rounds of tax cutting and rounds of tax increases in modern U.S. history. We haven't really had a big igniting of a trade war belligerence since the Depression era, and that's not an era that we want to repeat.
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When I first got into the sport it was all about who could cut the most weight, who could be the biggest on fight night. That's the same era when you're sparring 10 five minute rounds, new partner every two and a half minutes, that era of just really hard weight cutting and really hard full contact training.
I grew up under Thatcher; the era of apartheid; the era of the poll tax; the era of riots. I remember Neil Kinnock was a hero.
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.
I actually think the border tax - the concept of border tax is more of a trade issue than it is a - so when we talk about income coming in, I believe border tax in its form, if we use that, reciprocal tax is a tax that I really love because basically nobody can fight it.
Trump himself stands to benefit dramatically from the tax cuts. One of the things they're cutting is the alternative minimum tax. Last time we have tax returns for him was in 2005, where he paid about $31 million because of the alternative minimum tax. He won't have to pay that, if this tax bill goes through. So, not only is he reordering our constitutional democracy, he is personally enriching himself - which is not new, because, of course, he's done it ever since he swore an oath to become president of the United States.
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.
We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.
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.
I don't want to get into the 'who's a hostage-taker' discussion here, but what is the estate tax? It's a double tax on death. Economists will tell you that it's really not a tax that soaks the rich, but it's a tax on capital that deprives business investment and therefore job creation.
I went through the whole number, you know. The swing era, the boogie woogie era, the bebop era. Thelonious Monk is still one of my favorites. So a lot of these people had their effect on me.
Ladies and gentlemen, the Reagan tax cuts turned the deepest recession since the Great Depression into the largest 20-year economic boom in American history. The Reagan tax cuts of 1981 and '86. And the same thing can happen here again. Democrats just cannot let it.
Tax increases appear to have a very large sustained and highly significant negative impact on output. Since most of our exogenous tax changes are in fact reductions, the more intuitive way to express this result is that tax cuts have very large and persistent positive output effects
We went through an era of big dance records, an era of hip-hop being the biggest thing on the planet. The people who really break through are the people who are not afraid to express themselves in how they feel.
To introduce a whole new tax regime, that would be modern tax reform. But that's too big a task.
Tea Partiers hate government more than they hate the national debt. They refuse to reduce that debt with tax increases, even with tax increases on the wealthy, because a tax increase doesn't reduce the size of government.
The era of big government is over, but the era of big challenge is not. We need an era of big citizenship. There are many important people at this summit, but the most important title is 'citizen.' This is our republic. Let us keep it!
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