A Quote by Dick Spring
We are looking for a Wealth Tax that will bring in sufficient revenue to justify having a wealth tax.
Related Quotes
One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels.
'Egalitarians' who complain about inequality view the wealth of the wealthiest as bad in itself: it disfigures society. They would enact a wealth tax to extirpate the offending wealth.
Both ground- rents and the ordinary rent of land are a species of revenue which the owner, in many cases, enjoys without any care or attention of his own. The annual produce of the land and labour of the society, the real wealth and revenue of the great body of the people, might be the same after such a tax as before. Ground-rents, and the ordinary rent of land are, therefore, perhaps the species of revenue which can best bear to have a peculiar tax imposed upon them.
When I became finance minister in 1991, I discovered that the wealth tax rates income - there was taxation on wealth. It was so atrocious and so high that actually nobody could accumulate money in an honest way. I removed that tax, and the result was that Indian companies for the first time acquired an incentive to grow big, to grow rich.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade. So it makes the job of raising revenue easier. The revenues from the VAT can then be used to lower taxes on income and saving and investment. The Value-Added tax doesn't penalize work or saving; it's a tax on buying stuff.
The secreting of wealth in tax havens is often justified as 'legitimate tax planning.'
We already have an annual wealth tax on homes, the major asset of the middle class. It's called the property tax. Why not a small annual tax on the value of stocks and bonds, the major assets of the wealthy?
I'll give you a simple formula for straightening out the problems of the United States. First, you tax the churches. You take the tax off of capital gains and the tax off of savings. You decriminalize all and tax them same way as you do alcohol. You decriminalize . You make gambling legal. That will put the budget back on the road to recovery, and you'll have plenty of tax revenue coming in for all of your social programs, and to run the army.
My premise is not to tax to destroy the wealth of the wealthy; it's to increase the wealth of the bottom and the middle class.
Italy and France could lop off their excessive wealth through a one-time tax on private wealth.
If you don't put a value on money and seek wealth, you most probably won't receive it. You must seek wealth for it to seek you. If no burning desire for wealth arises within you, wealth will not arise around you. Having definiteness of purpose for acquiring wealth is essential for its acquisition.
In 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS.
We removed wealth tax in the 1991 budget. That is one way in which the children of those who had wealth could put money honestly into their enterprises.
Broaden the tax base, close loopholes and flatten the tax rates - all of which would bring more revenue stability and certitude to projections as well as make filing a comparable breeze.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.
Government has no wealth, and when a politician promises to give you something for nothing, he must first confiscate that wealth from you -- either by direct taxes, or by the cruelly indirect tax of inflation.
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