A Quote by Barry Gardiner
An efficient economy does not perpetuate the misallocation of capital - it punishes it.
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The US economy, because it's so energy wasteful, is much less efficient than either the European or Japanese economies. It takes us twice as much energy to produce a unit of GDP as it does in Europe and Japan. So, we're fundamentally less efficient and therefore less competitive, and the sooner we begin to tighten up, the better it will be for our economy and society.
The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
An energy tax punishes senior citizens, it punishes rural Americans, if you use electricity it punishes you. This bill will increase your cost of living and may kill your job.
The better side of Wall Street is when it is acting as an efficient mechanism of capital formation and capital flow, which helps businesses invest.
God never punishes his children in the sense of avenging justice. He chastens as a father does his child, but he never punishes his redeemed as a judge does a criminal. It is unjust to exact punishment from redeemed souls since Christ has been punished in their place. How shall the Lord punish twice for one offense?
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.
Well, certainly the Democrats have been arguing to raise the capital gains tax on all Americans. Obama says he wants to do that. That would slow down economic growth. It's not necessarily helpful to the economy. Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged.
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital from static to more dynamic situations, the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth of the economy.
When you tax capital gains income, you don't help the economy, you hurt the economy, which is why President Kennedy, President Reagan, President Clinton and President Bush all believed we should have a lower rate for capital gains.
From my earliest acquaintance with the science of political economy, it has been evident to my mind that capital was the product of labor, and that therefore, in its best analysis there could be no natural conflict between capital and labor.
Middle-out economics rejects the old misconception that an economy is a perfectly efficient, mechanistic system and embraces the much more accurate idea of an economy as a complex ecosystem made up of real people who are dependent on one another.
In some ways you still have to buy your freedom, but that's because you live in a social structure that's organized around capital, and capital does equate with a certain kind of freedom, especially if you can start to generate capital on your own.
It doesn't make any difference if you are in favor of capital punishment or if you are opposed to capital punishment. The fact of the matter is that as a viable penalty, capital punishment does not work at this time and has not worked in the State of Florida for many, many years.
Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged. It's one of those taxes that most clearly damages economic growth and jobs.
There are but three political-economic roads from which we can choose... We could take the first course and further exacerbate the already concentrated ownership of productive capital in the American economy. Or we could join the rest of the world by taking the second path, that of nationalization. Or we can take the third road, establishing policies to diffuse capital ownership broadly, so that many individuals, particularly workers, can participate as owners of industrial capital. The choice is ours.
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