A Quote by J. Paul Getty
I would rather receive one percent of the income of 100 men, than 100% of the income of one man.
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It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.
So tonight I propose one more step that I would rather not propose. I ask the most fortunate among us, those citizens earning over $100,000 per year, for one year, to pay an additional one percent on the income they receive.
If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.
The richer people, when they get another $100,000, or another million, or 10 million, don't tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000. All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.
The collective income of all these people - the bottom half - is less than three percent of global household income, and so there is a grotesque maldistribution of income and wealth.
To the winner, there is 100-percent elation, 100-percent fun, 100-percent laughter; and yet the only thing left to the loser is resolution and determination.
Theoretically, there is nothing that can stop the government from taxing 100 per cent of income so long as the people get benefits from the government commensurate with their income which is taxed.
And rely on Him with 100 percent of your faith for 100 percent of your life throughout 100 percent of your tomorrows. He will give you a peace no thief can ever steal.
Well over half of the time you spend working on a project (on the order of 70 percent) is spent thinking, and no tool, no matter how advanced, can think for you. Consequently, even if a tool did everything except the thinking for you - if it wrote 100 percent of the code, wrote 100 percent of the documentation, did 100 percent of the testing, burned the CD-ROMs, put them in boxes, and mailed them to your customers - the best you could hope for would be a 30 percent improvement in productivity. In order to do better than that, you have to change the way you think.
I would never be 100 percent in stocks or 100 percent in bonds or cash.
Psychics can never be 100 percent. I think that would be scary to be 100 percent.
Is it just a coincidence that as the portion of our income spent on food has declined, spending on health care has soared? In 1960 Americans spent 17.5 percent of their income on food and 5.2 percent of national income on health care. Since then, those numbers have flipped: Spending on food has fallen to 9.9 percent, while spending on heath care has climbed to 16 percent of national income. I have to think that by spending a little more on healthier food we could reduce the amount we have to spend on heath care.
Over the period from 1988 to 2005, the income share of the top five percent has grown by about 3.5 percent of global household income, and the shares of all the other groups have diminished. The greatest relative reduction was in the bottom quarter, which lost about one third of its share of global household income, declining from 1.155 to 0.775 percent, and now is even more marginalized.
The standard of 'affordable' housing is that which costs roughly 30 percent or less of a family's income. Because of rising housing costs and stagnant wages, slightly more than half of all poor renting families in the country spend more than 50 percent of their income on housing costs, and at least one in four spends more than 70 percent.
You never agree with any one candidate 100 percent. I don't agree with myself 100 percent. You don't even agree with me 100 percent.
Give me 100 percent. You can't make up for a poor effort today by giving 110 percent tomorrow. You don't have 110 percent. You only have 100 percent, and that's what I want from you right now.
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