A Quote by Lee Zeldin
I look at the idea of eliminating the state and local tax deduction as a geographic redistribution of wealth, because you're taking money from a place like New York to provide deeper tax cuts elsewhere.
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Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.
Should we freeze or postpone prospective tax cuts and avoid any new tax cuts until we are sure we have the money to pay for the war on terrorism and the war in Iraq.
What Mae West said about sex is true about taxes. All tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
Local tax increases can cause high-net-worth individuals to move, tax experts said; tax avoidance and tax arbitrage are multitrillion-dollar affairs, and rich people are sensitive to tax rates. But many of the people who move when their home state raises taxes are close to retirement anyway.
I have pledged to work hard to get the state and local tax deduction cap lifted.
The 1984 tax trials, when he appealed his New York state and New York City audits, were about Donald Trump claiming zero revenue for his consulting business and taking over $600,000 of deductions, for which he couldn't produce any documentation, no receipts, no checks, nothing, those two elements, zero income and huge deductions, combined with his own tax guy testifying under oath, that's my signature, but I didn't prepare that tax return, those are very strong badges of fraud.
Trump himself stands to benefit dramatically from the tax cuts. One of the things they're cutting is the alternative minimum tax. Last time we have tax returns for him was in 2005, where he paid about $31 million because of the alternative minimum tax. He won't have to pay that, if this tax bill goes through. So, not only is he reordering our constitutional democracy, he is personally enriching himself - which is not new, because, of course, he's done it ever since he swore an oath to become president of the United States.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax.
Liberal Democrats are inexorably opposed to tax cuts, because tax cuts give people more power, and take away from the role of government.
People in my hometown voted for President Reagan - for many, like my grandpa, he was their first Republican - because he promised that tax cuts would bring higher wages and new jobs. It seemed he was right, so we voted for the next Republican promising tax cuts and job creation, George W. Bush. He wasn't right.
In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.
You are smart people. You know that the tax cuts have not fueled record revenues. You know what it takes to establish causality. You know that the first order effect of cutting taxes is to lower tax revenues. We all agree that the ultimate reduction in tax revenues can be less than this first order effect, because lower tax rates encourage greater economic activity and thus expand the tax base. No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one.
What the Trump tax plan is a plan to give tiny little tax cuts to most Americans, raise taxes on perhaps one in five families and shower benefits on people who earn millions of dollars a year. And this fits with a fundamental principle the Republicans have been pursuing for a long time. The rich aren't investing and creating jobs, because they don't have nearly enough money, and so we need to get them money. And the way the Republicans want to get it to them is tax cuts first, and then to take away help for children, the disabled, the elderly and the poor.
New Hampshire has always been cheap, mean, rural, small-minded, and reactionary. It's one of the few states in the nation with neither a sales tax nor an income tax. Social services are totally inadequate there, it ranks at the bottom in state aid to education--the state is literally shaped like a dunce cap--and its medical assistance program is virtually nonexistent. Expecting aid for the poor there is like looking for an egg under a basilisk.... The state encourages skinflints, cheapskates, shutwallets, and pinched little joykillers who move there as a tax refuge to save money.
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