A Quote by John Podhoretz
Imagine his delight after it 'leaked' that he will propose raising taxes on the wealthy by $320 billion over the next 10 years, including increases to the capital gains and inheritance taxes.
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Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
What I have proposed would be paid for by raising taxes on the wealthy, because they have made all the gains in the economy.
My tax plan will cut taxes for 95 percent of workers, because we need to put money back into the pockets of struggling middle-class families and close the egregious tax loopholes that have exploded over the last eight years. My plan eliminates capital gains taxes entirely for the small businesses and start-ups that are the backbone of our economy, as opposed to John McCain's plan, which would tax these businesses. John McCain is running to serve out a third Bush term. But the truth is, when it comes to taxes, that's not being fair to George Bush.
The government taxes you when you bring home a paycheck.
It taxes you when you make a phone call.
It taxes you when you turn on a light.
It taxes you when you sell a stock.
It taxes you when you fill your car with gas.
It taxes you when you ride a plane.
It taxes you when you get married.
Then it taxes you when you die.
This is taxual insanity and it must end.
Buttercup's mother whirled on him. 'Did you forget to pay your taxes?' (This was after taxes. But everything is after taxes. Taxes were here even before stew.)
President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent.
Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are later bequeathed. To the extent that the long-run uptrend in stock prices continues, switching from security to security involves realizing capital gains that are subject to tax. Taxes are a crucially important financial consideration because the earlier realization of capital gains will substantially reduce net returns.
After saying the jobs bill is paid for, President Obama now says that it will be paid for by raising taxes over 10 years. I can't figure out if he's the kind of guy who makes infomercials, or the kind of guy who falls for infomercials.
When I became mayor of New York City, I had a $2.4 billion deficit. And everybody wanted me to raise taxes. I said, 'If I raise taxes, I'll drive people out of New York City, and then I'll be raising taxes again.' So what I did was I cut expenses by 15 percent.
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.
Hiking taxes on the so-called wealthy would help send us into a recession because so many small businesses report their income on individual tax returns. If taxes are raised, they will be less likely to be able to hire new workers and make new capital investments.
Europe advises, sometimes threatens, and tells us, 'You should make a budget of 10 billion euros in taxes.' Are they joking? The last thing that Italy needs is taxes.
Reagan is held up to us as an example of never raising taxes. Correction: Reagan raised taxes six of his eight years as president. Why? He was a pragmatist, not doctrinaire. He saw problems emerging, and when his policies faltered he changed his views. Flexibility, not rigidity.
Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged. It's one of those taxes that most clearly damages economic growth and jobs.
Look, only in Washington is not raising taxes considered a tax cut. Nobody's getting a tax cut here. We're not cutting taxes. We're preventing tax increases from occurring.
I don't think "Reganomics" will ever fully end. I mean, Reaganomics, to put it simply, was trying to get low taxes for wealthy people. And wealthy people are still there pushing for low taxes.
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