A Quote by John Maynard Keynes
The introduction of a substantial Government transfer tax on all transactions might prove the most serviceable reform available,with a view to mitigating the predominance of speculation in the United States.
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Any substantial tax reform would involve substantial redistributions of tax burdens and substantial changes in asset values, and you need some 'lubrication' (i.e., transition rules).
In the Islamic world, the U.S. is seen in two quite different ways. One view recognizes what an extraordinary country the U.S. is.The other view is of the official United States, the United States of armies and interventions. The United States that in 1953 overthrew the nationalist government of Mossadegh in Iran and brought back the shah. The United States that has been involved first in the Gulf War and then in the tremendously damaging sanctions against Iraqi civilians. The United States that is the supporter of Israel against the Palestinians.
On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States.
The other view is of the official United States, the United States of armies and interventions. The United States that in 1953 overthrew the nationalist government of Mossadegh in Iran and brought back the shah.
The United States government can indict you on something, and now you've got to prove your innocence. And that's not the Constitution of the United States.
In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.
I'd like to help struggling homeowners who can't pay their mortgages, I'd like to invest in our crumbling infrastructure, I'd like to reform the tax system so multimillionaires can't pretend their earnings are capital gains and pay at the rate of 15 percent. I'd like to make public higher education free, and pay for it with a small transfer tax on all financial transactions. I'd like to do much more - a new new deal for Americans. But Republicans are blocking me at every point.
The British have been particularly shy about the issues of financial regulation, and attentive only to the interests of the City - hence their reluctance to see the introduction of a tax on financial transactions and tax harmonisation in Europe.
If we could have a really good debate with the states and the federal government on tax reform I'd be up for that.
You tax Mexico? The president of the United States is going to tax Mexico to get a wall for the United States of America? I'm pointing out the absurdity of a lot of these comments.
Conventional wisdom on government's role in inequality often has it backwards. Tax reforms have resulted in a more progressive federal income tax; government transfer payments have become less progressive.
The United Nations is an indispensable but deeply flawed organization. It is valuable to the United States, and the United States is invaluable to it. We need to reform it.
One measure for promoting both stability and fairness across financial market segments is a small sales tax on all financial transactions - what has come to be known as a Robin Hood Tax. This tax would raise the costs of short-term speculative trading and therefore discourage speculation. At the same time, the tax will not discourage "patient" investors who intend to hold their assets for longer time periods, since, unlike the speculators, they will be trading infrequently.
Our broken tax code is one of the main reasons the United States lags behind when it comes to economic growth, job creation, and competitiveness. Without pro-growth tax reform, our workers and our businesses will continue to suffer.
In my view, until the U.S. tax policy is revised, not just tax extenders but the reform of tax policy, it makes it very attractive for us to invest on acquisition overseas.
If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
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