A Quote by Donald Trump
The estate tax has been a disaster. First of all it's double taxation, some people could even say it's triple taxation.
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Though the Income Tax Act obliges even non-residents to pay tax on incomes earned in India, many foreign institutional investors avoided paying taxes citing the Double Taxation Treaty with Mauritius.
Money is time made tangible - the time invested in the earning of it. Taxation is the confiscation of the earner's time. Although some taxation is necessary, all taxation diminishes freedom.
Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.
I guess it feels to me that the political argument that has been lost in my lifetime is taxation. How do you engage in that debate when people don't trust politicians at all? It is almost impossible to start a conversation about taxation.
There can be no such thing as 'fairness in taxation.' Taxation is nothing but organized theft, and the concept of a 'fair tax' is therefore every bit as absurd as that of 'fair theft.'
An optimised tax structure gives us the possibility of flexibility in using our assets that have already been taxed in one market. They can be used in new markets for further business development without the additional burden of double taxation.
The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.
In 1790, the nation which had fought a revolution against taxation without representation discovered that some of its citizens weren't much happier about taxation with representation.
It is the small owner who offers the only really profitable and reliable material for taxation. He is made for taxation.
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.
Inflation is taxation and taxation is theft that takes more money out of hard-working Americans' pocket books.
America is a land of taxation that was founded to avoid taxation.
Contrary to any claim of a systematically “neutral” effect of taxation on production, the consequence of any such shortening of roundabout methods of production is a lower output produced. The price that invariably must be paid for taxation, and for every increase in taxation, is a coercively lowered productivity that in turn reduces the standard of living in terms of valuable assets provided for future consumption. Every act of taxation necessarily exerts a push away from more highly capitalized, more productive production processes in the direction of a hand-to-mouth-existence.
The rationale for eliminating the alternative minimum tax is that such a backup system should not be necessary if the tax code is fundamentally fair and eliminates all the loopholes that made it possible for high-income taxpayers to escape taxation in the first place.
What I argue for is a progressive tax, a global tax, based on the taxation of private property.
The only beneficiaries of income taxation are the politicians, for it not only gives them the means by which they can increase their emoluments, but it also enables them to improve their importance. The have-nots who support the politicians in the demand for income taxation do so only because they hate the haves; . . . the sum of all the arguments for income taxation comes to political ambition and the sin of covetousness.
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