Tax Rates Quotes

If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%-or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening.

High tax rates that people don't actually pay do not bring the government as much revenue as lower tax rates that they do pay.

It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.

Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now.

The important thing about tax reform is you make the tax code less complicated, easier for people to understand.

Over the past 100 years, there have been three major periods of tax-rate cuts in the U.S.: the Harding-Coolidge cuts of the mid-1920s; the Kennedy cuts of the mid-1960s; and the Reagan cuts of the early 1980s. Each of these periods of tax cuts was remarkably successful as measured by virtually any public policy metric.

We sincerely believed that we don't tax too little in Washington. We spend too much.

The income tax is the fairest, the most equitable system of taxation that has yet been devised.

Let me tell you, the heart of my tax proposal: I will not raise taxes on the American people. I will not raise taxes on middle-income Americans.

The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.

The Laffer Curve illustrates the basic idea that changes in tax rates have two effects on tax revenues: the arithmetic effect and the economic effect.

I don't support any increase in income tax rates.

That's the biggest problem, is the tax code itself.

We're going to look awfully stupid if we give income tax relief to people who do not pay income taxes.

It seems difficult to understand that high rates of taxation do not necessarily mean high revenue for the government, and that more revenue may often be obtained with lower tax rates.

Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.

Taxes are way too complicated, and people spend way too much time worrying about ways to get them lower.

I think for some, the very wealthiest among us, for corporations, taxes are too low.

I think a flat tax has merit. Anything would be better than the current tax code.

I will never support any tax increase on middle-income earners, ever... If you're not going to eliminate loopholes and exemptions, then I wouldn't support lowering rates.

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.

Taxes will always be lower under a Coalition government

President Obama has repeatedly urged Congress to let the Bush tax cuts expire for those earning more than $250,000 a year. Increasing rates on top earners is an obvious way to raise revenue from those who can afford it most.

Here's the question for my fellow Republicans: Do we want to be the first-ever GOP House majority to raise federal marginal income tax rates?

If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.