A Quote by Steven Rattner

As a beneficiary of the carried interest loophole, I've seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.
In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There's also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.
It does not stand to give banks millions of dollars at an interest rate of one percent, when banks charge students an interest rate of 6 percent. Why should the banks be scalping students?
Academics are mostly professionals, involved in their work and other concerns of their own, with no particular interest in the workings of the ideological system.
When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.
What I want people to know is I went to Wall Street before the crash. I was the one saying you're going to wreck the economy because of these shenanigans with mortgages. I called to end the carried interest loophole that hedge fund managers enjoy. I proposed changes in CEO compensation.
The stomach, when we lie down to rest, should have its work done, that it may enjoy rest, as well as other portions of the body. The work of digestion should not be carried on through any period of the sleeping hours.
We're bringing the corporate rate down to 20 percent from 35 percent. That's a massive - this will be the biggest tax cut in history. In the history of our country. And that's great. And we need it. Because right now, our country's about the highest taxed or certainly one of the highest taxed in the world. And we can't have that. So we're going to have a country that's toward the lower end.
any experiment of interest in life will be carried out at your own expense
You have to love that government, but hate the government that might work in your interest and that you could control. That's an interesting propaganda task, but it's been carried out very well.
The real challenge was to model all the interest rates simultaneously, so you could value something that depended not only on the three-month interest rate, but on other interest rates as well.
It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.
One grave and fundamental Keynesian error is to persist in regarding the interest rate as a contract rate on loans instead of the price spreads between stages of production. The former, as we have seen, is only the reflection of the latter.
The full life depends, not on the range of experience but on the intensity of the interest, the emotion involved, and on its being a personal interest.
There's a big difference between showing interest and really taking interest.
The real economic cleavage is not... between employers and employed, but between all who do constructive work, from scientist to laborer, on the one hand, and all whose main interest is the preservation of existing proprietary rights upon the other, irrespective of whether they contribute to constructive work or not.
The system is wrong where it rewards the lack of interest in work with money, so you don't have to work.
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