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Egalitarians create the most dangerous inequality of all - inequality of power. Allowing politicians to determine what all other human beings will be allowed to earn is one of the most reckless gambles imaginable. Like the income tax, it may start off being applied only to the rich but it will inevitably reach us all.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
In the richest country in the history of the world, this Obama economy has crushed the middle class. Family income has fallen by $4,000, but health insurance premiums are higher, food prices are higher, utility bills are higher, and gasoline prices have doubled. Today more Americans wake up in poverty than ever before.
I worry about growing income inequality. But I worry even more that the discussion is too narrowly focused. I worry that our outrage at the top 1 percent is distracting us from the problem that we should really care about: how to create opportunities and ensure a reasonable standard of living for the bottom 20 percent.
The relatively unpredictable flow of funds to humanitarian organizations, and the bureaucratic strings often attached to them, can have a highly negative impact on an organization's ability to plan and execute programmes effectively. We need to be able to rely on predictable income flows to plan sustainable programmes.
If I'm owed money, but I say, 'Don't pay me, pay my cousin. Don't pay me, pay my charity,' you can do that, but then the IRS requires that you pay income tax on that. It's your income if you earned it and you directed where it went. If you exercised control over where the money went, you have to pay income tax on that.
We need business to understand its social responsibility, that the main task and objective for a business is not to generate extra income and to become rich and transfer the money abroad, but to look and evaluate what a businessman has done for the country, for the people, on whose account he or she has become so rich.
We did wanna change the name. We were actually putting names in a hat. It was the people making an income off Motley Crue that talked us out of it. The booking agent was getting them between a half a million and a million dollars a show as Motley Crue. Then there was the manager who got 10 to 15 percent off Motley Crue.
In 1848, Karl Marx said, a progressive income tax is needed to transfer wealth and power to the state. Thus, Marx's Communist Manifesto had as its major economic tenet a progressive income tax. ... I say it is time to replace the progressive income tax with a national retail sales tax, and it is time to abolish the IRS.
The richer people, when they get another $100,000, or another million, or 10 million, don't tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000. All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.
The monetary impacts of malaria from the household to the global level are significant. Malaria tends to strike during harvest season, rendering families too sick and too weak to perform the work necessary to earn a living. Malaria-stricken families spend an average of over a quarter of their income on malaria treatment.
There is the general belief that the corporation income tax is a tax on the "rich" and on the "fat cats." But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.
The motivation to start the infrastructure business was to have at least one business that gives you annuity income. Others are services businesses that don't give you annuity income. If you keep the customer happy, you make money. But in a household, if there are five people, keeping all of them happy is also difficult.
Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
In Southeast Asia the world is understood to be a vast, complex network of interdependent relationships. So when global capitalism makes it impossible for small-time rice farmers to feed their families and make a living, it is a natural thing for anyone in the family who can find an alternative source of income to do so.
Obamacare imposed an unprecedented level of regulation and standardization on individual-market health insurance all across America. This has left many consumers in an intolerable predicament - in some cases, having to spend up to a third or even half of their income on premiums and deductibles before insurance kicks in.
We cannot live without trade. A society can neither advance nor improve without excess of disposable income. This excess can only be amassed through the production of goods and services necessary or attractive to the mass. A financial system which allows this leads to inequality; one that does not leads to mass starvation.
The Profit and Loss Statement tells you a lot about how your business is doing. It can also help you to determine ways that you can go about saving money so that you get to bring more money home! Basically, the P&L statement measures all of your income sources verses all your business expenses for any given period of time.
I guess I'd be put in the ID politics camp. But there is really nothing in the world-view of, say, Bernie Sanders I actually disagree with. I'd like a guaranteed income, single-payer health care, a stronger safety net, etc. The problem is the temptation to paper over historically fraught issues to achieve that is tempting.
To Republicans, I humbly suggest that we make it possible for Democrats to give up their quest for redistribution of income and wealth by our acceptance of an appropriate role for government in financing those public goods and services necessary to secure a social safety net below which no American would be allowed to fall.
And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money.
America is the only high income nation without a paid family leave program. This means that if you or a family member gets sick, there is no guarantee that you can take the time you need to take care of yourself or your loved one, leaving already vulnerable families in the position of making hard decisions in cases of illness.
I get tired of hearing people, well-meaning people, talking about African-American kids or Hispanic kids as if they're all the same. Which isn't true. There is a very diverse group of people in both groups in terms of income, objectives in life, aspirations, cultural wants, habits, all the things that make us unique Americans.
I just got a new manager. He's like, "So what do you want to do with the deejay thing?" I'm like, "The deejay thing for me is more my hobby." It's great when you can supplement your income, when you have a weekly or something, it's fun. It's really a hobby, because I don't want it to take away from what I do, which is emceeing.
True economy consists in always making the income exceed the out-go. Wear the old clothes a little longer if necessary; dispense with the new pair of gloves; mend the old dress: live on plainer food if need be; so that, under all circumstances, unless some unforeseen accident occurs, there will be a margin in favor of the income.
Hunger is the worst form of deprivation of a human being. Although inability to access food is the immediate cause of hunger, the real cause in most of the incidents of hunger is lack of ability to pay for food. If we are looking for ways to end hunger then we should be looking at ways to ensure a reasonable level of income for all
Many adult book authors supplement their income by teaching at the college level. Full-time professors fare well, but pay for adjunct professors is notoriously shabby. Children's book authors have a sweeter deal. We're invited by schools, libraries, law firms, and Fortune 500 companies to share our best writing tips and strategies.
The lower income individuals, under any Republican proposal, at least that I have seen, are real losers in the framework because there is not enough subsidy, not enough assistance, for them to realistically participate in the market. Particularly if you halt or rollback the Medicaid expansion, which is for the lowest income workers.
You don't lock into a ten-year family budget. You take it a year at a time - maybe even six months at a time. And then if the income really comes in the way you hope it does, then you can make some of those expenditures that you've been waiting to make. We think that same principle should apply to the national family we call America.
'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity.
Any discuss about taxes ends up being, are you raising them or lowering them, as the opposed to the question I ask - are we raising them for high income individuals that can afford it, and lowering them for lower income people who really need help. Those old categories don't work, and they're preventing us from solving them problems.
We've been prepared to make the arguments for lowering corporation tax, which is all about encouraging risk takers, encouraging entrepreneurs, and I observe that for the vast majority of the Labour government we had a top rate of 40 per cent income tax. It's now higher, and I think we should look to get to a simpler, lower tax system.
There's a book out called 'How Money Walks' written by Travis Brown. He's followed annual adjusted gross income from 1992 to 2011. Approximately $100 billion has moved to Florida from all over the country. Number two is Arizona. Where does it come from? It's come from New York; it's come from New Jersey; and it's come from California.
Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry.
Since the traditional recorded-music business models have drastically changed, there is truly diminished income derived from recorded music by artists - both current and catalog. The touring industry has become much more important as a majority revenue stream and the ancillary fan experiences and promotions that may be derived from it.
We are angry about paying the highest income taxes and property taxes in the nation and getting less and less for it. We are angry about our incompetent, dysfunctional government that pays no attention to the desires of the people. We are angry about the cesspool of corruption and conflicts of interests and self-dealing that is Albany.
Whether through the introduction of a Universal Basic Income, or through developing ways to ensure that the self-employed, entrepreneurs and fledgling start-up companies have the support they need to take chances and innovate, the £500bn investment programme proposed by Corbyn responds to the challenges we will inevitably have to face.
If instead of looking at income, you look at levels of consumption, if anything that's become more equal. The fraction of families that have a dishwasher, that have a sewing machine, that have a television set. In respect to consumption, it's very hard to avoid the view that people have been getting more equal rather than more unequal.
The answers to feeding hungry children is not fewer dollars to feed hungry children, it's to do more. It is to raise the minimum wage. It is to increase, not dismantle, the earned income tax credit. It is to make college more affordable for more middle class families, not more expensive. These are the things that grow our middle class.
The more the state gives to its citizens, the less they have to earn. That is the basic concept of the welfare state - you receive almost everything you need without having to earn any of it. About half of Americans now pay no federal income tax - but they receive all government benefits just as if they had paid for, i.e., earned them.
When I became finance minister in 1991, I discovered that the wealth tax rates income - there was taxation on wealth. It was so atrocious and so high that actually nobody could accumulate money in an honest way. I removed that tax, and the result was that Indian companies for the first time acquired an incentive to grow big, to grow rich.
The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.
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.
Missing paperwork is one of the top reasons for delays during the mortgage process. I suggest following the two-by-two system: two most recent pay stubs, tax returns, W-2s from your employer, and bank statements from all of your savings and checking accounts. Be sure to remain clear and transparent, provide evidence of all forms of income.
In 1962, when I was 19, I visited India. With introductions from people involved in the U.S. civil rights movement, I was able to visit with several of the leading Gandhians there. The hundred-to-one difference in average per capita income between America and India at the time was a stark reality for the people who became my friends there.
While society cannot provide employment for its members, the production/work/income nexus has to be abandoned as a justification for our present parsimony to the unemployed. An assumption cannot be used to justify making second-class citizens of those who are unfortunate enough to constitute living proof of the inaccuracy of that assumption.
Why do we fully tax some kinds of income from capital, like interest and dividends; partially tax other kinds like capital gains; defer tax on other kinds, like IRAs; and impose no tax at all on still other types of capital income, like interest on municipal bonds? This simply is not rational. These distinctions don't have any inherent logic.
I doubt that Donald Trump would be happier... if he was a different person. But Trump is always telling people how great his life is and about all the great things that he's done, and that's also all about his income. And that's also what we found. If you ask people how their lives are going, as a whole, it seems they tend to point to income.
America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most.
At age nine, I got a paper route. Sixty-six papers had to be delivered to sixty-six families every day. I also had to collect thirty cents a week from each customer. I owed the paper twenty cents per customer per week, and got to keep the rest. When I didn't collect, the balance came out of my profit. My average income was six dollars a week.