A Quote by George P. Shultz
You don't get gushers of revenue by raising tax rates. You get it through expansion.
Related Quotes
I really do believe most people understand raising tax rates is bad for the economy, it costs jobs. It actually in the long term undermines revenue.
High tax rates that people don't actually pay do not bring the government as much revenue as lower tax rates that they do pay.
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.
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.
If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
Ultimate success for a carbon tax would mean so complete a shift to renewable energy that the tax would stop raising much revenue at all.
I'm still one who says that we can get rid of the Internal Revenue Service if we would pass the fair tax, which is a tax on consumption rather than a tax on people's income, and move power back where the founders believed it should have been all along.
The Liberal carbon tax is just about raising revenue for government.
Cuts in tax rates on individual and company income nearly always produce more revenue, not less.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
Coolidge was a pragmatist. He didn't start out with a tax theory. But he observed over time that lower tax rates sometimes brought in extra revenue. The success of his and Treasury Secretary Andrew Mellon's experiment with rate cuts has been obscured by our modern history books.
Here's the problem if you keep raising tax rates: You slow down economic growth.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
I think we can have some tax reform, but that doesn't mean tax increases. We ought to make the, the rates flatter. We ought to get rid of a bunch of those loopholes.
If I get married I get a tax break, if I have a kid I get a tax break, if I get a mortgage I get a tax break. I don't have any kids and I drive a hybrid, I think I should get a tax break. I'm trying to pay off my apartment so I have something tangible. I actually figured out if I paid off my place my reward would be that I would pay an extra four grand a year in taxes.
When I became governor, spending actually increased 28 percent my first term. Revenue increased 42 percent my first term without raising anybody's taxes. We did it because we had more taxpayers with more taxable income. That's how you get the revenue up. We did that without raising anybody's taxes.
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