A Quote by William E. Simon
The nation ought to have a tax system which looks like someone designed it on purpose.
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The nation should have a tax system that looks like someone designed it on purpose.
In 1990, about 1 percent of American corporate profits were taken in tax havens like the Cayman Islands. By 2002, it was up to 17 percent, and it'll be up to 20-25 percent very quickly. It's a major problem. Fundamentally, we have a tax system designed for a national, industrial, wage economy, which is what we had in the early 1900s. We now live in a global, asset-based, services world. And we need to have a tax system that follows the economic order or it's going to interfere with economic growth, it's going to reduce people's incomes, and it's going to damage the US.
There ought to be system of manners in every nation which a well-formed mind would be disposed to relish. To make us love our country, our country ought to be lovely.
[I]n framing a Government for a nation we ought, in those provisions which are designed to be permanent, to calculate not on temporary, but on permanent causes of expence.
Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.
God forbid that the United Kingdom should take a lead and introduce a sensible tax system of its own which would probably comprise a very low level of corporation tax - tax on corporate profits - and perhaps a low level of corporate sales tax, because sales are where they are, and sales in this country are sales here, which we can tax here.
I think we can have some tax reform, but that doesn't mean tax increases. We ought to make the, the rates flatter. We ought to get rid of a bunch of those loopholes.
The alternative minimum tax was designed to prevent the very wealthiest Americans from overusing certain tax benefits to avoid most of their tax burden.
The death of someone we know always reminds us that we are still alive - perhaps for some purpose which we ought to re-examine.
What does this system seem designed to do? As I see it, it seems designed to send people right back to prison, which is what happens about 70% of the time.
There can be no greater error than to expect, or calculate, upon real favors from nation to nation. It is an illusion which experience must cure, which a just pride ought to discard.
The world looks like it was designed. Of course, the Sun also looks like it goes around the Earth. It is only thru science that we know that both of these perceptions are wrong.
A properly designed tax system can strike a balance between helping the poor and, at the same time, giving people the incentive to work.
To me, there are four F's in a good tax system: it ought to be flatter, fairer, finite and family-friendly.
I guess it's like trying to put through the flat tax, which is probably my favorite one of all.... if we did pass it, all of a sudden, what do you have? You have the whole tax system run by a little old lady on a home computer, doing the work of all these thousands of bureaucrats and accountants. Passing that would be amazing, wouldn't it?
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.
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