A Quote by Roy Jenkins
Inheritance Tax; - it is, broadly speaking; a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue
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Using static scoring, tax cuts are broadly assumed to 'cost' a raw amount of reduced revenue. With dynamic scoring, the new revenue likely to flow from increased economic activity produced by a tax cut is considered, improving the accuracy of the projection.
More astronauts have been to the moon than farmers who paid the inheritance tax in 2013.
Regarding the Economy & Taxation: America's most successful achievers do pay a higher share of the total tax burden. The top one percent income earners paid 18 percent of the total tax burden in 1981, and paid 25 percent in 1991. The bottom 50 percent of income earners paid only 8 percent of the total tax burden, and paid only 5 percent in 1991. History shows that tax cuts have always resulted in improved economic growth producing more tax revenue in the treasury.
We need to consider a financial transactions tax. And we need to ask whether the top marginal tax rates are really appropriate, given that the effective tax rates paid by the wealthy are often actually lower than those paid by the rest of us.
Get a sales tax, small on necessities and large on luxuries; then a stiff inheritance tax on the fellow that saves and don't spend. That will get him either way. A tax paid on the day you buy is not as tough as asking you for it the next year when you are broke.
We are the heirs of the ages; but the estate is entailed, as large estates frequently are, so that while we inherit the earth, the great round world which is God's footstool, we have only the use of it while we live and must pass it on to those come after us. We hold the property in trust and have no right to injure it or to lessen its value. To do so is dishonest, stealing from our heirs their inheritance.
President Obama has repeatedly urged Congress to let the Bush tax cuts expire for those earning more than $250,000 a year. Increasing rates on top earners is an obvious way to raise revenue from those who can afford it most.
As to the Income Tax, my opinion is that the needful revenue would be fairly and most fairly raised if paid by property, and by individuals in proportion to their property. A Property Tax should be an assessment upon all land and buildings, and canals and railroads, but not on property such as machinery, stock in trade, etc. The aristocracy have squeezed all they can out of the mass of the consumers, and now they lay their daring hands on those not wholly impoverished.
The business model for content is to be paid for it. You can be paid for it either though advertising or subscriptions or some new invention, but right now what we've got is advertising revenue and subscription revenue as the only way to be paid for content.
Hardly a man in the world has an opinion upon morals, politics or religion which he got otherwise than through his associations and sympathies. Broadly speaking, there are none but corn-pone opinions. And broadly speaking, Corn-Pone stands for Self-Approval. Self-approval is acquired mainly from the approval of other people. The result is Conformity.
I'm still one who says that we can get rid of the Internal Revenue Service if we would pass the fair tax, which is a tax on consumption rather than a tax on people's income, and move power back where the founders believed it should have been all along.
We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.
If Wall Street paid a tax on every “game” they run, we would get enough revenue to run the government on.
A bet is a tax on bullshit; and it is a just tax, tribute paid by the bullshitters to those with genuine knowledge.
Broaden the tax base, close loopholes and flatten the tax rates - all of which would bring more revenue stability and certitude to projections as well as make filing a comparable breeze.
I personally - if I were designing the tax code - would have a tax code in which Mitt Romney paid more than 13 percent, given what I know about the kind of investments he made money from.
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