A Quote by Warren Buffett
I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.
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The first thing we should acknowledge is that poverty is hugely expensive. It varies from country to country, but most of the time it's around 3, 4 or 5% of GDP. If you look at what it would cost just to top up the income of all the poor people in a country, it would cost about 1% of GDP.
Too much of the income gains go to too few people, even though all of the stakeholders worked together to make their companies successful. By failing to put enough income into more hands, the GDP grows slower and consumers manage to meet their needs by incurring high levels of debt.
The standard of 'affordable' housing is that which costs roughly 30 percent or less of a family's income. Because of rising housing costs and stagnant wages, slightly more than half of all poor renting families in the country spend more than 50 percent of their income on housing costs, and at least one in four spends more than 70 percent.
Don't give up - our country needs you now more than ever. This is a pivotal moment in the history of our country: Our ideals are at stake, and we all have to fight for who we are. We are all, and should be treated as, equals, but the disparity in terms of income and inequality, for women and women of color, is significant.
A great country needs more people to serve it. A small country needs more people to serve. So, if both shall get what they need, the great country ought to yield.
Is it just a coincidence that as the portion of our income spent on food has declined, spending on health care has soared? In 1960 Americans spent 17.5 percent of their income on food and 5.2 percent of national income on health care. Since then, those numbers have flipped: Spending on food has fallen to 9.9 percent, while spending on heath care has climbed to 16 percent of national income. I have to think that by spending a little more on healthier food we could reduce the amount we have to spend on heath care.
I'm more than happy to share with you my opinion on Donald Trump but I'm running for president because I think this country needs to reembrace the Constitution. This country needs to reembrace free enterprise and it needs to a reembrace the strong national defense.
If Scotland is to have the power to fix its income tax rate for the whole country, England needs a body that can fix its income tax rate for the whole country.
As the economy grows, as I employ more people, make more money... the income of my country should increase as well.
The Foreign Office is a very important arm of the British state and I think Britain has a fantastic diplomatic service. We are the only country in the world spending 2% of our national income on defence and 0.7% of our national income on aid. We are the only country in the world doing both of those things.
The U.S. has been living in a situation of excesses for too long. Consumers were out spending more than their income and the country was spending more than its income, running up large current-account deficits. Now we have to tighten our belts and save more.
Over the period from 1988 to 2005, the income share of the top five percent has grown by about 3.5 percent of global household income, and the shares of all the other groups have diminished. The greatest relative reduction was in the bottom quarter, which lost about one third of its share of global household income, declining from 1.155 to 0.775 percent, and now is even more marginalized.
The collective income of all these people - the bottom half - is less than three percent of global household income, and so there is a grotesque maldistribution of income and wealth.
In the past 40 years, the United States lost more than a million farmers and ranchers. Many of our farmers are aging. Today, only nine percent of family farm income comes from farming, and more and more of our farmers are looking elsewhere for their primary source of income.
When people ask, "Why should the rich pay a larger percent of their income than middle-income people?" - my answer is not an answer most people get: It's because their power developed from laws that enriched them.
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.
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