A Quote by Bill Gates
The United States has a huge budget deficit so taxes are going to have to go up and I certainly agree they should go up more on the rich than everyone else. That - that's just justice.
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Meanwhile, the U.S. debt remains, as it has been since 1790, a war debt; the United States continues to spend more on its military than do all other nations on earth put together, and military expenditures are not only the basis of the government's industrial policy; they also take up such a huge proportion of the budget that by many estimations, were it not for them, the United States would not run a deficit at all.
I said we are going to balance an $11 billion budget deficit in a $29 billion budget, so by percentage, the largest budget deficit in America, by percentage, larger than California, larger than New York, larger than Illinois. And we're going to balance that without raising taxes on the people of the state of New Jersey.
[Companies] are not going to be leaving, go to another country, make the product, sell it into the United States, and all we end up with is no taxes and total unemployment. It's not going to happen. There will be consequences.
The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.
When I say that I am opposed to this budget, everyone says, "Well, what do you think the United States should do?" My response is, "Why should the United States do anything?"
I think liberals should accept that if we want big programs that significantly reduce inequality - and we should - it's going to require higher taxes on everyone. The rich can certainly do more, especially given their stupendous income increases since the Reagan era, but they can't do it all.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.
Politicians like to talk about the income tax when they talk about overtaxing the rich, but the income tax is just one part of the total tax system. There are sales taxes, Medicare taxes, social security taxes, unemployment taxes, gasoline taxes, excise taxes - and when you add up all of those taxes [many of which are quite regressive], and then you look at how they affect the rich and the poor, you essentially end up with a system in which the best off 20 percent of Americans pay one percentage point more of their income than the worst off 20 percent of Americans.
If you just go out and try to make money by starting a business, you're going to come up with something that's just like what everyone else has done. But if you look at the world and see opportunities that can be taken more seriously, then you come up with a great idea.
The stress laid on upward social mobility in the United States has tended to obscure the fact that there can be more than one kind of mobility and more than one direction in which it can go. There can be ethical mobility as well as financial, and it can go down as well as up.
When I announced on my Facebook page that I'm coming to Israel, people started telling me that I shouldn't go there, but I figured that if I'm not going to come here, then I guess I can't go back to the United States anymore and I can never go to Russia again and I should probably never go back to Germany and I should probably never go back to France and I should probably never go back to England....All I see here is a really beautiful city.
Arnold was on the 'Today' show today, he was a little light on specifics. He said he could solve California's $38 billion budget deficit, without cutting spending or raising taxes because there was a third way. What is it? Let's just say it involves a robot going back in time to convince Gray Davis to go into dentistry.
We in no way are naive to think that just because Russia and the United States agree to reduce their arsenals, that everyone else will fall in line.
We had a $10 billion budget deficit when we got here in January of 2003. We cut that budget deficit; we did not raise taxes; we came back in '05, and we had an $8 billion surplus. That's how fast it can happen.
On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States.
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