A Quote by Chanda Kochhar
Our institutional framework needs to be bolstered further. We have to implement laws like the proposed Bankruptcy Code and GST (Goods and Services Tax), which will create efficiencies and strongly support the business environment.
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The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
We need to enact fundamental tax reform. The weight and complexity of our 73,000-page tax code are crushing everyday Americans. We need to radically simplify the tax code so that we can re-start the real engine of growth in our economy. That means our tax code needs to go from 73,000 pages down to about three pages.
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 really believe that we can bring about changes in the tax code that will make America more attractive for investment and job creation and business. But the president has also made it very clear that he wants to put - he wants to put new elements in the tax code that are going to have companies pay a price if they decide to take jobs out of the country and then sell their goods back into the United States.
You know who a complicated tax code kills? The guy or gal trying to start a business out of the spare bedroom of their home. So we've got to simplify our tax code.
The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax.
My business is the enforcement of the tax laws and the integrity of the tax code and making sure that trustees of charitable giving are true trustees.
I have read a great deal of economic theory for over 50 years now, but have found only one economic "law" to which I can find NO exceptions: Where the State prevents a free market, by banning any form of goods or services, consumer demand will create a black market for those goods or services, at vastly higher prices. Can YOU think of a single exception to this law?
North Carolina needs to revamp the tax code completely. We have some of the highest tax rates, like the corporate tax rate, in the country.
Standing up Global Services will accelerate our capabilities across all Boeing services and support areas - from our traditional parts, modifications, and upgrades business to strengthening our data analytics and information-based offerings.
All societies establish laws that become norms. Those norms create the environment that incubates society. So, when you implement the laws of God in society, they produce a culture of heaven.
The materialisation of reforms in the form of rollout of the GST, the institution of Indian Insolvency and Bankruptcy Code, and the abolition of the Foreign Investment Promotion Board should boost investor and investment confidence.
When we`re done simplifying the tax code, getting the lobbyist carve outs our of the tax code, lowering our rates and letting people have a simple system, most Americans will be able to fill out their taxes on a postcard.
In abandoning the understanding that things - services, goods, wars, and houses - have costs, we risk becoming infantilised, incapable of making decisions about government or finance, and perhaps above all about the environment, the wellbeing of the planet upon which we depend and which our children will inherit from us.
We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify the tax code. The ultimate answer, in my opinion, is the fair tax, which is a fair tax for everybody, because as long as we still have this messed-up tax code, the politicians are going to use it to reward winners and losers.
And judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.
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