As a member of the Mormon church, Romney is instructed to tithe 10 percent of his income. That’s in keeping with most charitable giving: Religious institutions get about one-third of all contributions, according to ‘The American’ magazine.
For Indias 40 million taxpayers, the bulk of whom are salaried employees, forking out hefty service tax is a double whammy the government taxes them on income earned as well as all their expenditure.
If people do not have jobs, they do not have a secure income, and they do not have a sense of security.
People at the very top of the income scale also benefited from globalization and automation. But the income of working- and middle-class people in the developed world has stagnated.
I can’t imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a recipe for economic growth.
I agree that income disparity is the great issue of our time. It is even broader and more difficult than the civil rights issues of the 1960s. The ’99 percent’ is not just a slogan. The disparity in income has left the middle class with lowered, not rising, income, and the poor unable to reach the middle class.
Conventional wisdom on government’s role in inequality often has it backwards. Tax reforms have resulted in a more progressive federal income tax; government transfer payments have become less progressive.
I think success is a relative term. If you’re a caveman, success is capturing an elephant. Success is achieving better than the norm. Success is being exceptional. It’s exceptional reputation, exceptional income, and exceptional respect.
I like the honesty about direct selling because it openly tells people the way to get rich is residual income: Get paid tomorrow for something you did yesterday – and let it accumulate.
Children who have an education grow up to lead healthier lives – earn higher income, take better care of their families, contribute to their economies.
Cannot people realize how large an income is thrift?
Under Obama, income growth has been confined almost entirely to those at the top of the income distribution, continuing a pattern that began under President George W. Bush.
Now, McDonald’s is a very good indicator of the global economy. If McDonald’s doesn’t increase its sales, it tells you that the monetary policies have largely failed in the sense that prices are going up more than disposable income, and so people have less purchasing power.
Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life.
By tying minimum wage to money supply, the poor’s income would rise and fall with the rise and fall in money supply.
In order to have quality journalism you need to have a good income stream, and no Internet model has produced a way of generating income that would pay for good-quality investigative journalism.
Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg, Bill Gates, and Steve Jobs did not start out wealthy, and actually added to income inequality, but we all benefit from their creative effort.
In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There’s also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.
My view is pensioners don’t have the one option that people of working age have. They can’t really increase their income, because they are no longer able to work.
Earning high returns isn’t just a matter of bragging rights – endowment income supports the missions of nonprofit institutions, whether education, as with college and universities, or broader social programs, as at many private foundations.
A university education is a privilege, but we should be proud that in Britain it is also a right, no matter what your income or class or ethnic background.
JFK inherited three recessions from the Dwight D. Eisenhower years. And he wound up slashing tax rates across the board, for upper, middle and lower incomes as well as corporate investment. That’s Kennedy the Democrat.
The income tax is a twentieth-century socialist experiment that has failed. Before the income tax was imposed on us just 80 years ago, government had no claim to our income. Only sales, excise, and tariff taxes were allowed.
In sport, the money goes to the talent; it goes directly to the worker – unlike a bank, which sits in the middle of transactions and whose income bears no relation to any of the services it provides.
A safety net for the poor indeed requires some level of income redistribution.
Barriers today are largely class-based – income, networks, education. And those affect many white people as well.
Economists typically think that your happiness goes up as you get more money, but the more you have, the less each additional dollar matters. This means that you value money most in times when you have less income and more expenses.
Hating the Yankees is as American as pizza pie, unwed mothers, and cheating on your income tax.
When incomes and bonuses decrease, revenues falter, and businesses stumble, it’s more important than ever to give – not necessarily more, but in a way that matters more. When incomes are down and wallets are stretched, the effectiveness of our giving is what really counts.
If increasing income equality is the goal, it might be wiser to put money into infrastructure than to subsidize manufacturing. Construction also pays good wages, but with lower educational requirements. And America’s infrastructure needs are enormous.
A large income is the best recipe for happiness I ever heard of.
I was raised by a single mother. We were definitely below the median income of our area.
Economists report that a college education adds many thousands of dollars to a man’s lifetime income – which he then spends sending his son to college.
If the BJP government, like the Congress party, had asked what were the numbers on the fraction of people under a particular income, would I have not told them the truth? I would have told them exactly. I would have been as willing.
High tax rates distort economic decision making, and our corporate income tax rate is one of the highest in the world.
I’ve been around low-income people all of my life. I mean, growing up, low income, the community where I’ve chosen to live, low-income.
We should be forced to give so many exemptions and concessions (inevitably to the benefit of high spending authorities in Inner London) that the flat-rate poll tax would rapidly become a surrogate income tax.
The food delivery business has provided Singaporeans, especially the low-income and those who seek to supplement their income, with on-demand work.
Employers’ national income is a particular disincentive to employ because it is an expense without benefit.
I’m lucky that I enjoy playing live; it’s my passion to do that. There’s certain artists that never want to play live. They just want to be in the studio. Good luck, because there is no income.
The most important thing is guaranteed livable income, which will take a while to bring in because it means all the provinces have to participate.
I was the founder of the ‘Cartoon Bank’ in the ’90s. I was interested in finding ways for cartoonists to supplement their incomes.
We also have a program in place for low income people. A family of four making $26,000 a year can receive medical coverage, irrespective of citizenship or what documents.
Indonesia is a very huge country, geographically and in number of people, and there is still a lot of growth in the income level; It is very easy to assume there is a lot of demand for travel.
In 2011, agricultural exports hit a record high and producers saw their best incomes in nearly 40 years.
Globalization is stirring widespread economic anxiety, and middle class incomes have stagnated while a class of super-rich has emerged.
I think we ought to ban earmarks. I think we ought to give citizens the opportunity to designate up to 10 percent of their federal income tax toward debt reduction. If we did that, we would reduce our debt by $95 billion a year.
There are few sorrows, however poignant, in which a good income is of no avail.
I’m giving away 2 percent of my net income every month. I don’t think Bill Gates is doing that.
Women do two thirds of the world’s work. Yet they earn only one tenth of the world’s income and own less than one percent of the world’s property. They are among the poorest of the world’s poor.
Retired Americans living on Social Security, exempt from taxes because their income is modest, are not the problem.
In the lexicon of the political class, the word ‘sacrifice’ means that the citizens are supposed to mail even more of their income to Washington so that the political class will not have to sacrifice the pleasure of spending it.
It is wrong to divide the nation white against black, native born against immigrant or one religion against another. It is also wrong to divide people by income. East Germany was not an improvement over South Africa. Obama divides Americans against each other. This is wrong.
You know, there is an image of me out there for which advocacy of a universal basic income is inconsistent. It doesn’t fit the narrative because this is supposed to be the hardhearted, racist, sexist, homophobe, Charles Murray. And he wants to increase spending on the poor? That doesn’t fit.
