A Quote by Robert Peel
I have read all that has been written by the gravest authorities on political economy on the subject of rent, wages, taxes, tithes.
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Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.
[I] shall never use profanity except in discussing house rent and taxes. Indeed, upon second thought, I will not use it then, for it is unchristian, inelegant, and degrading--though to speak truly I do not see how house rent and taxes are going to be discussed worth a cent without it.
hy is it you can impose a new tax and keep your economy growing? Only if you cut other taxes by exactly the same amount. The problem with carbon taxes around the world has been you dump a new tax onto the economy and it's just adding more tax.
As I have been arguing for a long time now, there is a real need not simply for a political economy of wealth but also for a political economy of speed.
The whole - it's the economy's bad. It's bad for everybody. I have my own comedy club. I opened it three years ago in a horrible economy. I created jobs. And we just started breaking even after a year and a half, barely. For that entire time, I have had to pay the difference of what we owe in rent and taxes and everything out of my own pocket.
The current U.S. and Eurozone depression isn't because of China. It's because of domestic debt deflation. Commodity prices and consumer spending are falling, mainly because consumers have to pay most of their wages to the FIRE sector for rent or mortgage payments, student loans, bank and credit card debt, plus over 15 percent FICA wage withholding for Social Security and Medicare actually, to enable the government to cut taxes on the higher income brackets, as well income and sales taxes.
The real scientific study of the distribution of wealth has, we must confess, scarcely begun. The conventional academic study of the so-called theory of distribution into rent, interest, wages, and profits is only remotely related to the subject. This subject, the causes and cures for the actual distribution of capital and income among real persons, is one of the many now in need of our best efforts as scientific students of society.
The Trump administration's economic agenda is the right agenda. Corporate taxes have been driving capital and brains and companies overseas for a decade. It has caused huge damage in investment and jobs and productivity. It was a mistake. We have to fix it. Counterintuitively, that usually helps middle-class wages, and lower-class wages, and job formation.
I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
Political biography is in the doldrums. No one wants to read 800 pages or so of cradle-to-grave dead politics, especially if it's familiar stuff and has all been written about before.
One of the major forces driving the decline in wages and the concentration of wealth at the top is the offshoring of American jobs overseas - reducing wages not only in manufacturing but also across the economy.
Using political power, the elite can induce local authorities to facilitate enclosure and privatisation of land, water, and other hitherto public amenities. And they can pressurise public administrations to cut taxes, reducing financial resources for maintaining the remaining commons.
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.
I have already expressed my opinion on this subject in treating of rent, and have now only further to add, that rent is a creation of value, as I understand that word, but not a creation of wealth.
Corporations do not pay taxes, they collect them, passing the burden to consumers as a cost of production. And corporate taxation is a feast of rent-seeking - a cornucopia of credits, exemptions and other subsidies conferred by the political class on favored, and grateful, corporations.
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