You do need more revenues, and you do need to cut expenses. But you also don't want to go in a direction whereby increasing taxes creates a reticence to create new jobs. You don't want to increase taxes on work. You don't want to increase taxes on investment and the creation of wealth.
From the perspective of corporations, taxes are an additional cost of doing business. If you increase their taxes, to remain profitable they will have to find ways to lower other costs, or to increase revenues.
I don't want to increase taxes, I just want taxes to be paid honestly.
I'm as proud and assertive in my Quebec identity as any Quebecer. I believe it's to Quebec's advantage to be part of the Canadian federation. But I will be extremely strong and forceful in defending Quebec's interests within Canada.
Trump has been very, very open and clear on what he's going to do. He's going to make the U.S. very competitive on taxes, corporate and personal. He's eliminating policy on carbon and the regulatory environment on shale and energy and pipeline development. These are all things that Canada has to do and we no longer have a competitive environment to do them in. It manifests itself in the slow grind of our economy.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
The left does understand how raising taxes reduces economic activity. How about their desire for increasing cigarette taxes, soda taxes? What are they trying to do? Get you to buy less. They know. They know that higher taxes reduce activity. It's real simple: If you want more of an activity, lower taxes on it. If you want less of an activity, raise taxes. So if you want more jobs? It's very simple. You lower payroll taxes. If you don't want as many jobs, then you raise corporate taxes. It's that simple, folks.
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
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.
In the end, all Republicans want to make sure we don't increase taxes. That's where we differ with the Democrats.
I certainly wouldn't want to be a Republican who votes to significantly increase taxes for certain segments of the general public.
I want to stay alive. Yeah, I want to stay alive. I think that's the main thing. If there's a chance I can live longer, I want to do it.
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.
Labor has come out with a series of proposals to increase taxes, including taxes on people across Australia saving for their retirement, he has actually identified so far zero dollars in spending reductions.
Attempting to build a language wall around Quebec is precisely the wrong policy to follow. It will keep out of Quebec exactly what we need to attract by way of talent and capital; it will drive our best - francophones as well as allophones and anglophones, with their talents and capital - to leave Quebec.
Arthur Laffer's idea, that lowering taxes could increase revenues, was logically correct. If tax rates are high enough, then people will go to such lengths to avoid them that cutting taxes can increase revenues. What he was wrong about was in thinking that income tax rates were already so high in the 1970s that cutting them would raise revenues.