A Quote by Abhijit Banerjee
You don't boost growth by cutting taxes, you do that by giving money to people.
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If you want poor people to work you restore their incentive by giving them less, such as by cutting social services. If you want rich people to work you restore their incentive by giving them more, such as by cutting taxes.
There's nothing wrong with paying taxes; they should be paid in proportion to how rich you are. This idea that you're going to get better growth by cutting taxes at the top has no historical justification. And it's certainly not an argument in favor of capitalism.
Our pro-growth agenda of cutting business taxes and increasing opportunity continues to deliver results for the people of New Hampshire.
We know taxes slow down economic growth, so if you add a carbon tax you have to also minus other taxes. You can't take more money out of people's pockets. I don't think you can build a consensus in this country about environmental policy if you're going to make people poor.
It was an absurd theory that by cutting taxes you would increase government revenues, because the growth of the economy would create an overflow of taxes that would fall into the government coffers.
The biggest source of getting the country to a balanced budget is not by raising taxes or by cutting spending. It's by encouraging the growth of the economy.
The best way to encourage economic vitality and growth is to let people keep their own money.When you spend your own money, somebody's got to manufacture that which you're spending it on. You see, more money in the private sector circulating makes it more likely that our economy will grow. And, incredibly enough, some want to take away part of those tax cuts. They've been reading the wrong textbook. You don't raise somebody's taxes in the middle of a recession. You trust people with their own money. And, by the way, that money isn't the government's money; it's the people's money.
Arthur Laffer's idea, that lowering taxes could increase revenues, was logically correct. If tax rates are high enough, then people will go to such lengths to avoid them that cutting taxes can increase revenues. What he was wrong about was in thinking that income tax rates were already so high in the 1970s that cutting them would raise revenues.
A lot of people are happy to give money to charities but are wary of giving through taxes because they feel it doesn't produce any value.
And the cornerstone of my economic policies, when I first got elected, was cutting taxes on everybody on who paid taxes.
I'm cutting taxes. We're going to grow the economy. It's going to grow at a record rate of growth.
Cutting taxes is not bad. But if you cut taxes on the wealthy, which is what they wanted to do, you're not helping people who need better schools and better infrastructure and healthcare. You're basically robbing the middle class and the poor to provide tax cuts to the rich.
What does it mean when Republicans and Democrats alike warn us about the 'pain' involved in cutting government spending - in their spending less of our money? For the average citizen, what pain is there in his keeping more of his money to invest it the way he wants? Taxes cost people. Tax cuts do not cost government.
The rich people are apparently leaving America. They're giving up their citizenship. These great lovers of America who made their money in this country-when you ask them to pay their fair share of taxes they run abroad. We have 19-year old kids who lost their lives in Iraq and Afghanistan defending this country. They went abroad. Not to escape taxes. They're working class kids who died in wars and now billionaires want to run abroad to avoid paying their fair share of taxes. What patriotism! What love of country!
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
I'm always for lower taxes because lower taxes make people want to do things. Less burden, more fun, and economics is about people wanting to have fun. Growth is fun for people in the marketplace.
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