A Quote by Joseph Stiglitz
The basic thing that made Trump popular is that he blamed others for the problems that we have in the United States. We have a problem. Let's face it. The typical income, median income, of a full-time male worker - and the workers who have a full-time job are the lucky ones - is at the same level it was 42 years ago. At the bottom, real wages in the United States are at the same level they were 60 years ago.
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There are 11 states in the United States that in the last 50 years instituted an income tax. So I looked at each of those 11 states over the last 50 years, and I took their current economic metrics and their metrics for the five years before they put in the progressive income tax... Every single state that introduced a progressive income tax has declined as an overall share of the U.S. economy.
Ten years ago, the level was nowhere near what it is today.
(on soccer in the United States)
Real wages for male workers in the United States are about what they were in the '60s.
I want the standard of living in Iran in ten years' time to be exactly on a level with that in Europe today. In twenty years' time we shall be ahead of the United States.
I've been talking about income inequality in America for twenty years, and when I was president, people didn't pay much attention to it, probably because wages were going up. But I don't think I've given a single solitary speech since I left office that I hadn't talked about it. It's a problem around the world and within the United States. So these people have put that on the agenda.
In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.
Louisiana, as ceded by France to the United States, is made a part of the United States; its white inhabitants shall be citizens, and stand, as to their rights and obligations, on the same footing with other citizens of the United States, in analogous situations.
Abhinav Sihna is my partner and the COO of Oyo, and is also the head of the United States division. He spends all of his time building out the United States market for us and has moved out here full-time.
If you have always believed that everyone should play by the same rules and be judged by the same standards, that would have gotten you labeled a radical 60 years ago, a liberal 30 years ago and a racist today.
Meeting writers is always so disappointing. I got over wanting to meet live writers quite a long time ago. There is this terrific book that has changed your life, and then you meet the author, and he has shifty eyes and funny shoes and he won't talk about anything except the injustice of the United States income tax structure toward people with fluctuating income, or how to breed Black Angus cows, or something.
Workers in the United States are making less than they were almost 20 years ago, and yet they are working harder.But so am I working harder, that I can tell you.
Germany is a capitalist state nurtured carefully and brought back to prosperity by the United States, and it is very loyal to the United States. I don't even think the Germans enjoy full sovereignty. There are some things which they cannot do if the United States doesn't wish them to do it.
There will be a major border tax on these companies that are leaving and getting away with murder. And if our politicians had what it takes, they would have done this years ago. And you'd have millions more workers right now in the United States that are - 96 million really wanting a job and they can't get.
And wages - we'll see the end of this decline we're having. The median income in America is down 10% in just the last four years. That's got to stop. We've got to start seeing rising wages and job growth.
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.
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is what's happening as deliberate policy in Europe and the United States. Falling or stagnant prices are simply the result of having less income to spend.
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