A Quote by Robert Higgs
Transfer payments discourage the recipients from earning income in the present and from investing in their potential to earn income in the future. People respond to a reduced cost of idleness by choosing to be idle more often.
Related Quotes
Recipients of transfers tend to become less self-reliant and more dependent on government payments. When people can get support without exercising their own abilities to discover and respond to opportunities for earning income, those abilities atrophy. People forget - or never learn in the first place - how to help themselves, and eventually some of them simply accept their helplessness.
Conventional wisdom on government's role in inequality often has it backwards. Tax reforms have resulted in a more progressive federal income tax; government transfer payments have become less progressive.
It is possible to increase paper-money income to any amount by debasing the currency. But real income can only be increased by working harder or more efficiently, saving more, investing more, and producing more.
I think the future is like anything else that's important. It has to be earned. If we don't earn it, we don't have a future at all. And if we don't earn it, we don't deserve it, we have to live in the present, more or less forever. Or worse, we have to live in the past. I think that's probably what love is - a way of earning the future.
There are several problems with the ACA's reliance on means-based inclusion criteria and mandatory participation in exchanges - the complexity of the exchange mechanism, and the potential for income-based subsidies to become a disincentive to earn if insurance rates escalate for those beyond the income threshold.
A universal basic income means not only that millions of people would receive unconditional cash payments, but also that millions of people would have to cough up thousands more in taxes to fund it. This will make basic income politically a harder sell.
Whether you're earning income because you have money sitting in the bank or a stock account somewhere, you should be taxed on that income fairly and the same.
What we're seeing is that even in high poverty neighborhoods, the average cost of renting is quickly approaching the total income of welfare recipients and low wage workers.
If a woman is making $85,000 a year, putting aside 20% of her income, putting it in a bank, earning very little...Over the course of her life vs. investing, this can cost her $1.5 million, $2 million, $2.5 million. Life changing amounts.
The collective income of all these people - the bottom half - is less than three percent of global household income, and so there is a grotesque maldistribution of income and wealth.
My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long term residual income...passive income from capital gains, dividends, residual income from business, rental income from real estate, and royalties.
Lower-income immigrant families might receive more in benefits than they pay in taxes. But that mathematical equilibrium is temporary, and an artifact of the way the tax-and-transfer system is structured to help lower-income families and to support families with kids.
China's continued growth and rising household income are creating opportunities for lower-income economies in low-cost manufacturing.
It should feel genuinely good to earn income from your blog - you should be driven by a healthy ambition to succeed. If your blog provides genuine value, you fully deserve to earn income from it.
There are many families that want to raise kids on one income, or one income and some part-time work, and instead find themselves pressured, financially and culturally, to keep up with the dual-earning Smith-Joneses next door.
In 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist