A Quote by Eva Kaili
Having taxed the economy so hard, it has created a big depression. So we have to create a tax system that could really help growth and investment that is the first thing.
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And above all, above all, honest work must be rewarded by a fair and just tax system. The tax system today does not reward hard work: it penalizes it. Inherited or invested wealth frequently multiplies itself while paying no taxes at all. But wages on the assembly line or in farming the land, these hard-earned dollars are taxed to the very last penny.
Though tax records are generally looked upon as a nuisance, the day may come when historians will realize that tax records tell the real story behind civilized life. How people were taxed, who was taxed, and what was taxed tell more about a society than anything else. Tax habits could be to civilization what sex habits are to personality. They are basic clues to the way a society behaves.
We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.
Having a lower tax, simpler, fairer, flatter tax system is something that can drive growth.
From the time they get up in the morning and flush the toilet, they're taxed. Then they go and get the cup of coffee, they're taxed....This goes on all day long. Tax, tax, tax.
The poverty we see in America is now too widespread, and too complex, for easy fixes. But I do think we can reimagine many of our institutions and can create new ones in ways that would be effective. We could, for example, create social insurance systems, similar to social security, such as that we went through in 2008-9. We could create a financial transaction tax, oil profit taxes and a fairer estate tax system, and we could plow much of the revenue raised from these into job training programs, into better education infrastructure, into an expanded Earned Income Tax Credit.
Our present tax system ... exerts too heavy a drag on growth ... It reduces the financial incentives for personal effort, investment, and risk-taking ... The present tax load ... distorts economic judgments and channels an undue amount of energy into efforts to avoidtaxliabilities.
In 1994, Estonia became the first European country to adopt a flat tax, and its 26 percent flat tax dramatically energized what had been a faltering economy. Before adopting the flat tax, the Estonian economy was literally shrinking. In the eight years after 1994, Estonia experienced real economic growth - averaging 5.2 percent per year.
I think Trump's done a very good job, especially with the economy, and we see he's cut regulation, I think the tax cuts really help spur some growth.
The impact of QE on generating more lending by Wall Street to Main Street and in generating more employment and increasing overall investment in the economy is quite modest. QE probably limited the initial collapse of the economy in 2008, and likely had a very small positive impact on economic growth, but its broader impact on jobs and growth in the economy seems not very big.
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.
Government spending is being restrained, the economy is making progress and moving forward, and the pro-growth, tax cutting policies put in place have allowed businesses to grow, which has brought in additional tax revenue to help pay off the debt.
A lack of reform - particularly in international tax - has hurt our ability to compete in a global economy by keeping U.S. corporate cash overseas and reducing domestic investment, slowing economic growth.
[High income tax rates] not only check consumption but discourage investment and encourage...the avoidance of taxes [rather] than the production of goods.[...]Our present tax system...reduces the financial incentives for personal effort, investment, and risk-taking.
Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.
It is mind-boggling to me that the Almighty power created everything I see; the Bible says that God created the entire universe just so he could create this galaxy just so he could create Earth so he could create human beings so he could create a family.
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