Daniel Hannan Quotes
That's the problem with very high taxes - they don't redistribute wealth; they redistribute people.
Hannan, Daniel. "High taxes don't redistribute wealth, they redistribute people." The Telegraph, Telegraph Media Group, 14 Dec. 2012.
This became known as the Buffet Principle—that the very rich should not pay a lower tax rate than the workers who make far less money than they do. President Barack Obama used this principle by name in calling for the 2011 Jobs Act which would eliminate some of the loopholes and exemptions by which the rich could avoid some or much or their tax obligation.
Recommending campaign strategy to erstwhile politicians:
The George W. Bush administration when they had a Republican-controlled Congress, had amended the tax laws to treat the earnings of the hedge fund managers differently from people who manage other enterprises in the nation. They gave a group of very wealthy managers whose earnings were already amongst the highest of any managers in the country a huge tax break, while little public attention was paid to the subtlety of complex tax laws. Daschle and others began to draw public attention to the inequity.
At the time, he, th richest man in America was paying a lower ta rate than his secretary, his employees and the waiter who served him lunch. The “Buffet Rule” was developed and named for him that said that wealthy people should pay a minimum rate of taxation regardless of tax credits, deductions and other means of tax avoidance.
Daniel John Hannan, Baron Hannan of Kingsclere is a British writer, journalist and former politician serving as an adviser to the Board of Trade since 2020. He is the founding president of the Initiative for Free Trade. A member of the Conservative Party, he was a Member of the European Parliament (MEP) for South East England from 1999 to 2020.
