Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.
There’s a lot to be said for expanding the Earned Income Tax Credit.
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.
We will attract more people to Kentucky by lowering our income tax rate. In fact, lowering the income tax rate is the single most important thing we can do to create opportunity.
I am such a strong admirer and supporter of George W. Bush that if he suggested eliminating the income tax or doubling it, I would vote yes on first blush.
Ford’s federal income tax rate was just 2.3 percent in 2009 even though it made $3 billion in profits.
I like to say I’m more conservative than Goldwater. He just wanted to turn the clock back to when there was no income tax.
Low-wage individuals barely get anything. I think we have to reward work, and I do think that we need to bump up the earned income tax credit to help low-wage workers.
Though the Income Tax Act obliges even non-residents to pay tax on incomes earned in India, many foreign institutional investors avoided paying taxes citing the Double Taxation Treaty with Mauritius.
I’ll tell you who doesn’t have any personal responsibility. Companies like General Electric and others who pay absolutely no income tax.
When I started to pay income tax, I was 50 years old.
The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we’re prepared to make a commitment today to bring down our future deficits.
I still believe a majority of Republicans are for income tax cuts.
Texas has no income tax, which is a big draw for corporate executives who do business there. But it’s hardly tax-free. The property taxes are high for a Southern state. The sales taxes are high. One study found that the bottom 20 percent of the Texas population pays 12 percent of its income in state and local taxes.
No state income tax, no snow, lots of golf courses, and ready-made gated communities make Florida an irresistible place for seniors – the ones who have the income level – to retire.
As far as income tax payments go, sources vary in their accounts, but a range of studies find that immigrants pay between $90 billion and $140 billion in Federal, State, and local taxes.
I would like to electrocute everyone who uses the word ‘fair’ in connection with income tax policies.
A fairer system bases itself on actual outcomes – if you earn more you pay more, through progressive income tax.
There are many people who think we should have zero tax on capital gains, interest and dividends for everybody, as – the very, very wealthy. But recognize that means that Bill Gates and Warren Buffett would pay no income tax at all. And some people say, ‘Well, that’s a good thing for growth of the economy.’
We’ve outpaced Japan and Europe in creating new jobs, but there’s major competition from India and China. It’s not enough to make income tax cuts permanent.
If Scotland is to have the power to fix its income tax rate for the whole country, England needs a body that can fix its income tax rate for the whole country.
On my income tax 1040 it says ‘Check this box if you are blind.’ I wanted to put a check mark about three inches away.
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