A Quote by Robert Reich

As income from work has become more concentrated in America, the super rich have invested in businesses, real estate, art, and other assets. The income from these assets is now concentrating even faster than income from work.

Robert Reich

Quote Topics

America Art Assets Become Businesses Concentrated Concentrating Estate Even Faster Income Invested More Now Other Real Real Estate Rich Super Than Work

Quote Author

Robert Reich
American - Economist
Born: June 24, 1946

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.

Robert Kiyosaki

While easy to understand, the income-based poverty line has limitations. Specifically, the median monthly household income measures only income without considering assets.

Carrie Lam

If I collected all the diamonds in the world, I'd have no 'income' but I'd have a lot of 'assets'. Would my company be worth nothing because I have no income? A lot of Net companies are collecting assets. They have to be measured with a new set of metrics.

Vinod Khosla

Income is now more concentrated in the hands of the rich. Those well-off households tend to save and invest higher proportions of their earnings than middle-class or low-income families do.

Annie Lowrey

The biggest revenue target is the preferential rate for long-term capital gains, which raises a perennial question: Why should capital income be taxed at a much lower rate than ordinary income? Capital assets are owned overwhelmingly by the rich.

James B. Stewart

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.

Thomas Pogge

The middle class is a group defined by more than just money: it also leans on credentials, education, aspirations, assets, and, of course, household income.

Alissa Quart

Over the period from 1988 to 2005, the income share of the top five percent has grown by about 3.5 percent of global household income, and the shares of all the other groups have diminished. The greatest relative reduction was in the bottom quarter, which lost about one third of its share of global household income, declining from 1.155 to 0.775 percent, and now is even more marginalized.

Thomas Pogge

I agree that income disparity is the great issue of our time. It is even broader and more difficult than the civil rights issues of the 1960s. The '99 percent' is not just a slogan. The disparity in income has left the middle class with lowered, not rising, income, and the poor unable to reach the middle class.

Eleanor Holmes Norton

If you're a full-time manager of your own property - and full-time, according to Congress, is 15 hours a week - you can take unlimited depreciation and use it to offset your income from other areas and pay little in tax. One of the biggest real estate tax lawyers in New York said to me, if you're a major real estate family and you're paying income taxes, you should sue your tax lawyer for malpractice.

Hillary Clinton

Income tax in particular in the United States is concentrated on the top half of the income distribution, and very heavily skewed towards the top 10 or even top 1 percent.

Judy Woodruff

When you can identify a specific tax that people don't like, and this is one that was designed for the Rockefellers, for the Carnegies in 1916, to fund World War I, but now it's beginning to hit small business people, real estate holders, a lot of people well down the income scale who just spent a life building assets. Suddenly they get hit with a 40%, 50% tax rate.