A Quote by Seth Moulton
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.
Related Quotes
It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.
I think it's terrible for people in effect to say that income from investment should be taxed at a much lower rate than income from labor.
Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
The confidence is really driven by the woman - whether she can have the confidence that there will be enough earning or income to finance all the domestic spending - but also by the middle-income class, which for many Asian countries has become the growth power for the economy.
Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away
The truth is, if you are a woman saving 10% of your income for retirement, and you put it in the bank account, your chances of retiring well - living on 90% of your pre-retirement income for your full life - is 0%.
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.
Theoretically, there is nothing that can stop the government from taxing 100 per cent of income so long as the people get benefits from the government commensurate with their income which is taxed.
Well, higher-income people don't have to pay taxes if they don't want to because they can move their money somewhere else, they can move their investments. They can stop investing. They can stop working. They don't need to work. They're higher-income people.
Income-producing unit trusts are brilliant because if you can accept capital values will be volatile for a while, your dividend income will always be higher than what you get in the bank.
No solution [to the problem of poverty] is so effective as providing income to the poor. Whether in the form of food, housing, health services, education or money, income is an excellent antidote for deprivation. No truth has spawned so much ingenious evasion.
Let's take the nine states that have no income tax and compare them with the nine states with the highest income tax rates in the nation. If you look at the economic metrics over the last decade for both groups, the zero-income-tax-rate states outperform the highest-income-tax-rate states by a fairly sizable amount.
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.
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.
I believe capital gains, for the most part, should be taxed the same way we tax income from hard work, sweat, and toil. And if we do those things, we can be a country that actually can afford debt-free college again.
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.
Related Authors
Alexander Hamilton Quotes
American
Politician
Benjamin Franklin Quotes
American
Politician
Bernie Sanders Quotes
American
Politician
David Brooks Quotes
American
Politician
Hillary Clinton Quotes
American
Politician
Jill Stein Quotes
American
Politician
John F. Kerry Quotes
American
Politician
John McCain Quotes
American
Politician
Marco Rubio Quotes
American
Politician
Mitt Romney Quotes
American
Politician
Narendra Modi Quotes
Indian
Politician
Newt Gingrich Quotes
American
Politician
Paul Ryan Quotes
American
Politician
Rand Paul Quotes
American
Politician
Ron Paul Quotes
American
Politician
Ted Cruz Quotes
American
Politician