A Quote by Thomas DiLorenzo
The biggest roadblock to middle-class economic advancement is that governments confiscate more than a third of all family income. Each year the average American taxpayer works 127 days - from January 1 until May 7 - just to pay taxes.
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According to the Tax Foundation, the average American worker works 127 days of the year just to pay his taxes. That means that government owns 36 percent of the average American's output-which is more than feudal serfs owed the robber barons. That 36 percent is more than the average American spends on food, clothing and housing. In other words, if it were not for taxes, the average American's living standard would at least double.
In the name of short-term stimulus, he [Obama] will give every American family (who makes less than $200,000) a welfare check of $1,000 euphemistically called a refundable tax credit. And he will so sharply cut taxes on the middle class and the poor that the number of Americans who pay no federal income tax will rise from the current one-third of all households to more than half. In the process, he will create a permanent electoral majority that does not pay taxes, but counts on ever-expanding welfare checks from the government.
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.
Donald Trump is a - the owner of a lot of real estate that he manages, he may well pay no income taxes. We know for a fact that he didn't pay any income taxes in 1978, 1979, 1984, 1992 and 1994. We know because of the reports of the New Jersey Casino Control Commission. We don't know about any year after that.
Cutting taxes for very high income people an average of more than $100,000 a year for people that make more than a million dollars a year is not an effective way to get the economy going.
By the standards of honest, if unorthodox, accounting, government workers don't pay taxes, but are paid out of taxes. In other words, they pay taxes out of money confiscated from taxpayers, who, in turn, pay taxes twice: on their own income and on the income of members of the bureaucracy. At the very least, this should disqualify state workers from voting.
In time of this grave national danger, when all excess income should go to win the war, no American citizen ought to have a net income, after he has paid his taxes, of more than $25,000 a year.
Politicians like to talk about the income tax when they talk about overtaxing the rich, but the income tax is just one part of the total tax system. There are sales taxes, Medicare taxes, social security taxes, unemployment taxes, gasoline taxes, excise taxes - and when you add up all of those taxes [many of which are quite regressive], and then you look at how they affect the rich and the poor, you essentially end up with a system in which the best off 20 percent of Americans pay one percentage point more of their income than the worst off 20 percent of Americans.
By 1979, Chinese people were poorer, on average, than North Koreans. I mean, your average per-capita income in China that year was one third of sub-Saharan Africa's.
The only one benefiting from this, the American taxpayer, almost half of our taxes, our income taxes, are going to the military and to these wars.
Your profits are going to be cut down to a reasonably low level by taxation. Your income will be subject to higher taxes. Indeed in these days, when every available dollar should go to the war effort, I do not think that any American citizen should have a net income in excess of $25,000 per year after payment of taxes.
If you want to know what the biggest thing in your way to an improved standard of living, higher pay, a more rewarding career is: Barack Obama and the Democrat Party and their economic policies. They are the roadblock.
I know hedge-fund guys that are making hundreds of millions of dollars a year and pay no tax. And I want to lower [tax] for the middle income. The middle class in this country has been decimated.
If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
If anything, taxes for the lower and middle class and maybe even the upper-middle class should even probably be cut further. But I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it.
The average American family head will be forced to do twenty years' labor to pay taxes in his or her lifetime.
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