A Quote by Rush Limbaugh
I am interested in tax policy that raises money because I don't like being in debt.
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I don't know how you feel, but I'm pretty sick of church people. You know what they ought to do with churches? Tax them. If holy people are so interested in politics, government, and public policy, let them pay the price of admission like everybody else. The Catholic Church alone could wipe out the national debt if all you did was tax their real estate.
According to an analysis by the Tax Policy Center, Donald Trump`s tax plan is going to increase the national debt by more than 50 percent over ten years.
I am in the process of trying to decide whether I can make a substantive and productive contribution to the policy-making process. I was always there because I wanted to work on the pressing issues of the day - I'm interested in energy, I'm interested in the climate bill and technology policy.
Tea Partiers hate government more than they hate the national debt. They refuse to reduce that debt with tax increases, even with tax increases on the wealthy, because a tax increase doesn't reduce the size of government.
For policy makers interested in using tax policy to stimulate investments or especially to smooth business cycle fluctuations, the results are not promising.
In my view, until the U.S. tax policy is revised, not just tax extenders but the reform of tax policy, it makes it very attractive for us to invest on acquisition overseas.
Donald Trump ran for office complaining that at $19 trillion, the US debt was completely out of control, and yet what he's planning to do is throw trillions of dollars more onto that debt. If the proposed tax plan cuts upon the wealthiest Americans is enacted, 10 years from now America's debt will be over $30 trillion. And so, he's contradicting, his own stated positions. And that's because, to Donald, none of this is about policy. It's not about sound economics. It's about greed and the glorification of the great leader.
Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.
The reality is the most important thing that can be done are these permanent changes like to the tax code, reduction of government spending. These are the things that pop up in economy and move it in the right direction, start to make it an economy that is moving because of the money in the private economy. When you think about it, when the Fed is lowering an interest rate, what it's doing is it's creating more liquidity. It's putting more money into the economy. The same thing happens when you reduce the tax except if happens from physical policy.
I took office as president in January 2003, and in April 2003, I sent to Congress my first proposal for tax reform. Some parts were voted on, with respect to federal taxes, and then it came to a standstill. Why? Because each state is interested in its own tax reform, has its own tax policy, and each state has its federal deputies and senators.
I am neither a free-trade man, willing to collect all the money we have to raise by direct tax upon the people, nor am I willing to lay a tax simply for protection when the Government does not need the money.
Feminists who say that I switched sides because I am an opportunist should know that exactly the opposite is true. It's cost me a lot of money. I've gone from being well-to-do to being $70,000 in debt. I have done something self-destructive financially. I could only do it because I don't have to support a wife and child.
Local tax increases can cause high-net-worth individuals to move, tax experts said; tax avoidance and tax arbitrage are multitrillion-dollar affairs, and rich people are sensitive to tax rates. But many of the people who move when their home state raises taxes are close to retirement anyway.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
People don't seem to make the connection between their tax money and the benefits that they get from their tax money, like free education, and the fire department, and police protection, and everything else. It drives me bonkers, because it's pretty straightforward to me.
Avoid debt that doesn’t pay you. Make it a rule that you never use debt that won’t make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
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