Top 1200 Tax Returns Quotes & Sayings - Page 8

Income tax filing and payment day should be moved from April 15th to November 1st so it can be close to election day. People ought to have their tax bills fresh in mind as they go to vote.

Size will hurt returns. Look at Berkshire Hathaway - the last five things Warren has done have generated returns that are splendid by historical standards, but now give him $100 billion in assets and measure outcomes across all of it, it doesn't look so good. We can only buy big positions, and the only time we can get big positions is during a horrible period of decline or stasis. That really doesn't happen very often.

The rationale for eliminating the alternative minimum tax is that such a backup system should not be necessary if the tax code is fundamentally fair and eliminates all the loopholes that made it possible for high-income taxpayers to escape taxation in the first place.

Beware of politicians who tell you they'll do all these wonderful things for you for only a small tax increase. Those tax increases are never as small as you might imagine, and the benefits are always smaller than promised and/or imagined.

The Conservatives will have a serious plan that is not a tax on families and businesses, that will get our emissions down by partnering, by being strategic and and taking it seriously, but not through just a tax mechanism.

A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.

The A.M.T. is a parallel system for calculating tax liability intended to ensure that high-income taxpayers pay a substantial amount in federal tax even if they have large deductions or other items to offset income.

I am a leader in the fight against the national energy tax proposal some Congressional leaders are advocating. I call this bad idea 'cap-and-tax' because of the damage it will do to jobs, manufacturing and our economy.

Many have criticized a federal carbon tax, saying that it would increase energy costs. Some continue to oppose it even when that revenue would be used to reduce other taxes in what's known as a tax swap.

I personally - if I were designing the tax code - would have a tax code in which Mitt Romney paid more than 13 percent, given what I know about the kind of investments he made money from.

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).

Though the Income Tax Act obliges even non-residents to pay tax on incomes earned in India, many foreign institutional investors avoided paying taxes citing the Double Taxation Treaty with Mauritius.

We did the two-year extension of Bush tax cuts in 2010. We negotiated the Budget Control Act in August of 2011 and the fiscal cliff deal at the end of 2012, which saved 99 percent of Americans from a tax increase.

People can yawn all they want when a conservative mentions the tax system. But there is no doubt that when we have a tax system that punishes businesses and workers for producing then it becomes financially advantageous for everyone just to import cheaper goods from abroad.

Government spending is always a “tax” burden on the American people and is never equally or fairly distributed. The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing.

Every tax cut I call for is targeted, it's responsible and it is paid for within my balanced budget plan. My tax cuts will not undermine our economy. They will speed economic growth.

Subsidies and mandates are just two of the privileges that government can bestow on politically connected friends. Others include grants, loans, tax credits, favorable regulations, bailouts, loan guarantees, targeted tax breaks and no-bid contracts.

It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.

The reason educational spending in Texas is so low is because you don't have a state tax there, and that's why Texas is big growth because you don't tax people to death.

Its fundamentally unfair to have so much of the tax relief go to so few. And it is a 10-year tax plan rather than one, as mine, focused on the next two years, which in my opinion is the critical time to jumpstart the economy.

The death tax causes one-third of all family-owned small businesses to liquidate after the death of the owner. It is also an unfair tax because the assets have already been taxed once at their income level.

Contrary to the myth that Mr. Bush cut taxes only for the wealthy, the 2001 tax cut reduced taxes for every income-tax payer in the country.

The appreciation of capital assets is already taxed at an extremely favorable rate compared to labor. That's why the rich pay such a low effective tax rate no matter what their marginal tax bracket.

Eventually we'll use a CO2 tax offset by a reduction in taxes elsewhere alongside a cap-and-trade plan, but the degree of difficulty associated with a CO2 tax far exceeds that with a cap-and-trade plan. We're seeing it's hard to get a cap-and-trade plan and it's much easier to use as a basis for a global agreement than a CO2 tax.

The billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay.

I prefer an income tax, but the truth is I am afraid of the discussion which will follow and the criticism which will ensue if there is an other division in the Supreme Court on the subject of the income tax. Nothing has injured the prestige of the Supreme Court more than that last decision, and I think that many of the most violent advocates of the income tax will be glad of the substitution in their hearts for the same reasons. I am going to push the Constitutional amendment, which will admit an income tax without questions, but I am afraid of it without such an amendment.

While the wealthiest families completely benefit from the tax cuts targeted towards the upper brackets, middle-income families were hit with the unwelcome surprise of higher taxes on tax day.

If you're in people's living-rooms, via the television, it's what happens. You're more noticeable. But I'm not aware that anyone has said I pay a lower rate of tax. I don't. I pay my full share of tax, believe you me.

It's April 15, tax day. The federal tax code is over 74,000 pages long. But stick with it because after page 72,000, it gets really good.

The present tax codes inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.

I know hedge-fund guys that are making hundreds of millions of dollars a year and pay no tax. And I want to lower [tax] for the middle income. The middle class in this country has been decimated.

Marx and Engels openly declared that the progressive income tax and the death tax are 'economically untenable' and that they advocated them only because 'they necessitate further inroads' upon the capitalist system and are 'unavoidable' as a means of bringing about socialism.

Republicans want to punish work and reward wealth; hence the high payroll tax and the low dividend tax. Said one Bush economic adviser, if we can't help wealthy investors and screw working people, what's the point in being a Republican?

If the goal of the Trump tax cut is to make America look more like tax-cutting North Carolina and less like soak-the-rich Connecticut and Illinois, he's certainly on the right track.

Telephones are a virtual necessity - not a luxury - and the revenues collected by this tax flow into the general fund. But this once temporary tax remains and costs American taxpayers, our small businesses and families almost $6 billion dollars a year.

If you're a full-time manager of your own property - and full-time, according to Congress, is 15 hours a week - you can take unlimited depreciation and use it to offset your income from other areas and pay little in tax. One of the biggest real estate tax lawyers in New York said to me, if you're a major real estate family and you're paying income taxes, you should sue your tax lawyer for malpractice.

I was never charged with tax evasion. I've never been a tax protester.

If Congress were to pass a 'flat' tax, you'd simply pay a fixed percentage of your income, and you wouldn't have to fill out any complicated forms, and there would be no loopholes for politically connected groups, and normal people would actually understand the tax laws, and giant talking broccoli stalks would come around and mow your lawn for free, because Congress is NOT going to pass a flat tax, you pathetic fool.

The total funding of SETI (the Search for Extraterrestrial Intelligence) in the U.S. is 0.0003 percent of the tax monies spent on health and human services. And it's not even tax money. The SETI Institute's hunt for signals is funded by donations.

There are basically two kinds of tax, the kind the masses can see, and the kind they can't. The inflation tax is of the second kind.

The Clinton tax increase - which was an increase in taxes primarily on upper-income people - not only made the tax code more nearly progressive, it preceded one of the most productive economic periods in American life.

What I do is allow middle-income families to finally be able to save their money tax-free. No tax on interest dividends or capital gains for middle-income Americans.

Land taxes is the thing. They got so high that there is no chance to make anything. Not only land but all property tax. You see in the old days, why the only thing they knew how to tax was land, or a house. Well, that condition went along for quite awhile, so even today the whole country tries to run its revenue on taxes on land. They never ask if the land makes anything. "It's land ain't it? Well tax it then."

A [tax loophole is] something that benefits the other guy. If it benefits you, it is tax reform.

Justice [Sonia]Sotomayor said, "Let's talk - you want to talk about the tax power."And I got like a 10-minute run on the tax power. And, boy, was I glad I did because I was able to get across this idea that, yes, this is a narrower ground on which you can affirm it. And I think everybody agrees. I think even the dissenting justices ultimately in the case agreed that, if Congress had expressly called it a tax, it would be indisputably constitutional.

People were holding high denomination notes to keep tax unaccounted for money. Some sectors like real estate were using cash to avoid tax.

Utah has benefited from setting smart tax policy. That said, public finding is dynamic enough that we cannot just set the tax policy and presume that it does not require continual review and adjustment.

We've looked at [Donald Trump's] tax proposals. I don't see changes in the corporate tax rates or the kinds of proposals you're referring to that would cause the repatriation, bringing back of money that's stranded overseas. I happen to support that.

It is no secret that our tax code is drastically outdated and burdensome to all Americans. Fortunately, more and more people are aware daily of the inequities that arise from things such as the estate tax, and it has come to the forefront of Congress' agenda.

Though tax records are generally looked upon as a nuisance, the day may come when historians will realize that tax records tell the real story behind civilized life. How people were taxed, who was taxed, and what was taxed tell more about a society than anything else. Tax habits could be to civilization what sex habits are to personality. They are basic clues to the way a society behaves.

If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.

As chairman of the tax-writing House Ways & Means Committee, I continue to be inspired by President Reagan's 1985 national address to the American people as he challenged them to join him in boldly reforming the broken, complex tax code.

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.

When I do something stupid with money and lose it....I call that Stupid Tax. I have paid so much Stupid Tax that I am expert.

When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.

Under the Tax Cuts and Jobs Act, the average American family of four will receive a $1,182 tax cut. Imagine what you could do with $1,182 more in your pocket!

It's fundamentally unfair to have so much of the tax relief go to so few. And it is a 10-year tax plan rather than one, as mine, focused on the next two years, which in my opinion is the critical time to jumpstart the economy.

The IRS spends God knows how much of your tax money on these toll-free information hotlines staffed by IRS employees, whose idea of a dynamite tax tip is that you should print neatly.

To tax the larger incomes at a higher percentage than the smaller, is to lay a tax on industry and economy; to impose a penalty on people for having worked harder and saved more than their neighbors.

But what is striking about this, in a town that often talks about tax cuts, we could quite easily, Republicans and Democrats working together, do something that everybody in America desires, and that is a simplification of our Tax Code.