Income Quotes - Page 21

• The biggest roadblock to middle-class economic advancement is that governments confiscate more than a third of all family income. Each year the average American taxpayer works 127 days - from January 1 until May 7 - just to pay taxes.

  Thomas DiLorenzo

  Government, Average, Years

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• The problems of the global economy are not based in perception, but in the reality of prices, balance sheets and income statements, vast concentrations of wealth and power, precarious systemic imbalances, ruthless exploitation, and command economies mismanaged by Central State/Bank policy and manipulation.

  Charles Hugh Smith

  Reality, Concentration Of Wealth, Perception

  "The 'Uncredible' Dog And Pony Show: Merkel And Sarkozy" by Charles Hugh Smith, www.businessinsider.com. October 10, 201.

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• It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.

  Warren Buffett

  Zero, Real, Years

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• The welfare state destroys the market mechanisms - lessens free choice and willing exchange. Simultaneously creating unnatural specializations, it must, granted statism's premise, resort to welfarism; that is, it must assume the responsibility for the people's welfare: their employment, their old age, their income, and the like. As this is done, man loses his wholeness; he is dispossessed of responsibility for self, the very essence of his manhood. The more dependent he becomes, the less dependable!

  Leonard Read

  Responsibility, Men, Essence

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• It is untrue that some are poor because others are rich. If an order of society in which incomes were equal replaced the capitalist order, everyone would become poorer.

  Ludwig von Mises

  Order, Rich, Poor

  Ludwig von Mises (2016). “Socialism - An Economic and Sociological Analysis: The Economist”, p.397, VM eBooks

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• In capitalist enterprise there is no secure income and no security of wealth.

  Ludwig von Mises

  Wealth, Enterprise, Capitalist

  Ludwig von Mises (2016). “Socialism - An Economic and Sociological Analysis: The Economist”, p.342, VM eBooks

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• Is there another way? Of course there is. There is a way based on simple moral principles: Everyone keeps his own money. Everyone decides what to do with his own money. No income tax. No IRS. No government grants or assistance to anyone. All charity is voluntary. It's called freedom. It's a peaceful, harmonious way of life, one that Americans once believed in.

  Jacob G. Hornberger

  Simple, Government, Peaceful

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• Government income redistribution programs produce the same result as theft. In fact, that's what a thief does; he redistributes income. The difference between government and thievery is mostly a matter of legality.

  Walter E. Williams

  Differences, Government, Matter

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• There is no moral distinction between the act of a pickpocket and the progressive income tax.

  Leonard Read

  Libertarian, Moral, Progressive

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• 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.

  Dennis Prager

  Government, Giving, Needs

  "The More Given, the Less Earned" by Dennis Prager, www.realclearpolitics.com. April 21, 2009.

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• It's one thing to maintain that upper-income earners should pay higher tax rates because they are better able to shoulder the burden for essential government services. But it's constitutional blasphemy to claim that the tax code should be used as a weapon against the wealthy and that the state should be the tyrannical arbiter of how income is distributed.

  David Limbaugh

  Government, Essentials, Pay

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• New and expanded refundable tax credits would raise the fraction of taxpayers paying no income taxes to almost 50% from 38%. This is potentially the most pernicious feature of the president's budget, because it would cement a permanent voting majority with no stake in controlling the cost of general government.

  Michael J. Boskin

  Government, Voting, President

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• President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent.

  Dick Morris

  War, Average, President

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• The most pernicious of his [Obama] proposals will be the massive Make Work Pay refundable tax credit. Dressed up as a tax cut, it will be a national welfare program, guaranteeing a majority of American households an annual check to 'refund' taxes they never paid. And it will eliminate the need for about 20% of American households to pay income taxes, lifting the proportion that need not do so to a majority of the voting population.

  Dick Morris

  Cutting, Welfare Programs, Voting

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• In the name of short-term stimulus, he [Obama] will give every American family (who makes less than $200,000) a welfare check of $1,000 euphemistically called a refundable tax credit. And he will so sharply cut taxes on the middle class and the poor that the number of Americans who pay no federal income tax will rise from the current one-third of all households to more than half. In the process, he will create a permanent electoral majority that does not pay taxes, but counts on ever-expanding welfare checks from the government.

  Dick Morris

  Cutting, Government, Class

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• A multitude of uniform, unidentifiable houses, lined up inflexibly, at uniform distances, on uniform roads, in a treeless communal waste, inhabited by people of the same class, the same income, the same age group, witnessing the same television performances, eating the same tasteless prefabricated foods, from the same freezers, conforming in every outward and inward respect to the common mold.

  Lewis Mumford

  Distance, Class, People

  "The City in History". Book by Lewis Mumford, p. 486, 1961.

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• If we cannot return to fiscal integrity because the public prefers profusion and prodigality over balanced budgets, we cannot escape paying the price, which is ever lower incomes and standards of living for all.

  Hans F. Sennholz

  Integrity, Return, Standards

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• Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.

  Ludwig von Mises

  Successful, Progressive Taxation, Names

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• If the present American laws concerning the taxation of the profits of corporations, the incomes of individuals, and inheritances had been introduced about 60 years ago, all those new products whose consumption has raised the standard of living of the 'common man' would either not be produced at all or only in small quantities for the benefit of a minority. The Ford enterprises would not exist if Henry Ford's profits had been taxed away as soon as they came into being.

  Ludwig von Mises

  Men, Years, Law

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• Rule by the statist elite is not benign or simply a matter of who happens to be in office: it is rule by a growing army of leeches and parasites battening off the income and wealth of hard-working Americans, destroying their property, corrupting their customs and institutions, sneering at their religion.

  Murray Rothbard

  Hard Work, Army, Office

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• Capitalism in the 19th century did not doom the worker to a life of perpetual poverty. Instead, they kept creating new and better-paying employments as the decades went by. They produced the wealth and rising income that resulted in the emergence of a phenomenon completely new to human history: a self-supporting and educated middle class that grew more and more as they lower classes bettered their economic well-being.

  Richard Ebeling

  Class, Creating, Self

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• Ironically, in the full-fledged transfer society, where governments busy themselves redistributing income by means of hundreds of distinct programs, hardly anyone is better off as a result.

  Robert Higgs

  Mean, Government, Busy

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• Recipients of transfers tend to become less self-reliant and more dependent on government payments. When people can get support without exercising their own abilities to discover and respond to opportunities for earning income, those abilities atrophy. People forget - or never learn in the first place - how to help themselves, and eventually some of them simply accept their helplessness.

  Robert Higgs

  Exercise, Opportunity, Government

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• All subsidy measures, all schemes to redistribute income or to force Peter to support Paul, are one-eyed as well as shortsighted. They get their immediate appeal by focusing attention on the alleged needs of some particular group of intended beneficiaries. But the inevitable victims - those who are going to be asked to pay for the new handout in increased taxes (which directly or indirectly means almost everybody else) - are left out of account. Only one-half of the problem has been seen. The cost of the proposed solution has been overlooked.

  Henry Hazlitt

  Mean, Support, Groups

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• If people do not consume their whole incomes, the non-consumed surplus can be invested, it increases the amount of capital goods available and thereby makes it possible to embark upon projects which could not be executed before.

  Ludwig von Mises

  People, Increase, Projects

  Ludwig Von Mises, Murray Newton Rothbard (1980). “Planning for freedom, and sixteen other essays and addresses”, Libertarian Press, Incorporated

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