A Quote by Steven Rattner
Increased revenues, meaning higher taxes, will be a central element of any successful long-term budget plan, and President Obama is right to insist that the wealthy - the slice of America that has come through the recession in by far the best financial health - should provide those funds.
Related Quotes
At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.
I think that many central banks and financial authorities understand that any long term attempt to compete through an artificial depreciation of their currency will not be very effective in the long term.
Tea Party attendees and health care town-hall protesters share the common belief that the extravagant spending of President Obama and the Democratic Party - absent any checks and balances - will eventually lead more people into government dependency, higher taxes, and, perhaps, our country's financial ruin.
The president recognizes that funding global health is good for national security, domestic health and global diplomacy. Consequently, President Obama has steadily increased funding for the President's Emergency Plan for AIDS Relief, or PEPFAR, which was created by President Bush and has strong bipartisan support.
President [Barack] Obama's staking his reelection hopes on rebuilding America's middle class. He wants higher taxes on the wealthy, tougher rules on Wall Street, and everyone else to get a fair shot to succeed. Republicans can cry "class warfare" if they want, but as the president put it today, it's about this country's welfare.
President Obama unveiled a $4 trillion budget for 2016 that would increase taxes on the wealthy and spend more money on education. He also made a snowball and put it in the oven, just to see which would last longer, his budget or the snowball.
So, in Europe, they're cutting people's retirement and health benefits. And that's what we want to avoid from happening. They're raising taxes, entering a recession. That's the kind of economic program that President Obama has put in place.
A tax cut means higher family income and higher business profits and a balanced federal budget....As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance.
A more productive economy in the long term will bring us higher tax revenues, but that requires long-term investment in infrastructure and the skills necessary to grow a balanced economy.
Hillary Clinton would raise taxes on so-called rich people, corporations, capital gains, financial transactions, and inheritance. Has there ever been an example where America has taxed its way into prosperity? Never. Trump has an economic-recovery-and-prosperity plan. Clinton has an austerity-recession plan.
Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now.
It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.
President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent.
While advocates of legalized gambling say it brings in revenues needed for education and other uses, it actually has led to higher taxes, loss of jobs, economic disruption of non-gambling businesses, increased crime and higher social-welfare costs
The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.
Congress also did something new, which is, they delayed for two years two new taxes - one on medical devices and one on high-end health insurance plans. Those taxes are supposed to help pay for President Obama's health care law, but they're really unpopular.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman