A Quote by Jay Leno
We ought to thank President Bush. He made it a lot easier for people to do taxes this year. No job, no income tax this year.
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President Bush earned $400,000 for his job as president last year. That's not really that much for being president when you think about it. But President Bush, he doesn't do it for the money, he does it for the eight months of vacation every year.
You, as a wage earner have to pay your taxes every year on your income for that year. So if you have a one-time windfall that makes you a lot money you could end up in the top tax bracket. But if you're a corporation you are allowed to reach forward with deferrals for years. Over a 45 to 50 year period, you can balance out the winning years and the losing years in such a way that you pay very little tax, especially considering the time-value of the money.
I can make a firm pledge, under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.
If you look at the performance of the zero-income-tax-rate states and the highest-income-tax-rate states, I believe a large amount of their difference is due to taxes. Not only is it true of the last decade, but I took these numbers back 50 years. And, there's not one year in the last 50 where the zero-income-tax-rate states have not outperformed the highest-income-tax-rate states.
You can't legitimately kick on income tax, for it's on what you have made. You have already made it. But, look at land, farms, homes, stores, vacant lots. You pay year after year on them whether you make it or not.
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.
Taxes are important. President Bush's tax proposals leave no rich person behind. Voters approve of President Bush helping the kind of people they wish they were one of.
It is easier to start taxes than to stop them. A tax an inch long can easily become a yard long. That has been the history of the income tax. Would not the sales tax be likely to have a similar history [in the U.S.]? ... Canadian newspapers report that an increase in the sales tax threatens to drive the Mackenzie King administration out of office. Canada began with a sales tax of 2%.... Starting this month the tax is 6%. The burden, in other words, has already been increased 200% ... What the U.S. needs is not new taxes, is not more taxes, but fewer and lower taxes.
Contrary to the myth that Mr. Bush cut taxes only for the wealthy, the 2001 tax cut reduced taxes for every income-tax payer in the country.
Eastern Washington families and businesses should be able to deduct every penny of state and local sales tax they pay throughout the year from their federal tax bill, especially when people in most states are deducting their state income taxes.
When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
In time of this grave national danger, when all excess income should go to win the war, no American citizen ought to have a net income, after he has paid his taxes, of more than $25,000 a year.
OK, so this pack - tax package includes about 50 tax breaks. None of them are new. They were all existing tax breaks. What this did was make them permanent. It gives some certainty for people when they're filing taxes that they don't have to wonder if Congress is going to renew them year after year.
Year after year, President Bush has broken his campaign promises on college aid. And year after year, the Republican leadership in Congress has let him do it.
Politicians like to talk about the income tax when they talk about overtaxing the rich, but the income tax is just one part of the total tax system. There are sales taxes, Medicare taxes, social security taxes, unemployment taxes, gasoline taxes, excise taxes - and when you add up all of those taxes [many of which are quite regressive], and then you look at how they affect the rich and the poor, you essentially end up with a system in which the best off 20 percent of Americans pay one percentage point more of their income than the worst off 20 percent of Americans.
Let me respond with a few points, the first being that all immigrants pay taxes, income taxes, property taxes, sales taxes, gasoline taxes, cigarette taxes, every tax when they make a purchase.
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