Quote of the Day
Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
Andrew Lloyd Webber
Yet, individuals and corporations in Puerto Rico pay no federal income tax.
What good will a tax break do me if I'm crippled for life?
I'm not gonna give the British Government the joy of keeping taxing me. They don't tax art. And all my cars are just a collection of art.
A lot of girls annoy me who go to university - one girl told me she was going to Oxford because it was something to do between leaving school and getting married. And I've got to pay for that being an income tax payer.
One would expect that private property taken by eminent domain would become land available for public use such as parks and roads. Unfortunately, this decision creates a loophole for government to manipulate the definition of public use simply to generate greater tax revenue.
As American taxpayers know too well, the tax code is incredibly complex and compliance is all to expensive.
Americans spend 3 billion hours per year filling out tax forms and keeping tax records.
To do what we are doing in this budget to our children, cutting their health care funds, decreasing opportunity, simply so we can pay for tax cuts and a war in Iraq is beyond belief, and we need to reverse it.
I support exemptions from the estate tax to ensure that when Maine farm owners die, their families will be able to continue to farm the land that they have protected and lived on, often for generations.
These kids understood what is not immediately obvious; that they were going to pay the bills for tax cuts that had been passed today or in the last 4 years, and for the war in Iraq, because essentially we are borrowing money to do those things.
Bush is giving the rich a tax cut instead of putting that cut in the pockets of working people.
Carol Moseley Braun
The American people want us to stop spending. And so let's just give them some certainty. Let's extend the tax - the existing tax cuts. And then let's give some more tax breaks to small businesses and large. And then maybe the American people will have some confidence.
And I have to tell you as a grandmother, I worry about the fact that my grandchildren are going to be paying for all the spending, including military spending, that has gone on and the tax cuts that have come through.
We must take away the government's credit card. With limits on both tax revenue and borrowing, the Federal government would finally be forced to get serious about spending cuts.
I would go to them and I would explain this is the price of going forward. We're going to move ahead in all these other areas. We're moving ahead in tax reform and GST, we are moving ahead on trade, but this will not be done at the cost of the environment.
If leaders in the space program had at its beginning in the 1940s, pointed out the benefits to people on earth rather than emphasizing the search for proof of evolution in space, the program would have saved $100 billion in tax money and achieved greater results.
The move to tax Internet sales, clothed as a 'fairness' issue, is the typical 'wolf-in-sheep's-clothing' ploy so often used by governments unwilling to cut expenditures to match revenues. It matters not whether its proponents have a 'D' or an 'R' after their name. It is a tax increase in either case.
Every tax or rate, forcibly taken from an unwilling person, is immoral and oppressive.
The IRS is currently considering a rule that would make it easier for tax preparers to disclose the private information contained in tax returns - including name, address, Social Security number, employer, income, and charitable donations.
Reports also suggest that Ernst and Young and other large tax preparation firms are sending tax returns overseas for processing. But the IRS has no control over tax information once it's been sent to India or another country.
And yet, if we don't, first and foremost, act responsibly with the national tax dollars that we have, we can't properly address those regional priorities that we would like to.
Finally, the House is working to require a comprehensive federal review of IRS regulations with a follow-up report to Congress on possible actions to reduce the tax paperwork burden imposed on small businesses.
Michael K. Simpson
I will veto any tax increase.
The real problem in Greece is not cutting taxes, it's making sure that we don't have tax evasion.
I think there's been a decline in the public's access to what's being done with their tax dollars, what's being done in their name. I hope that that will be repaired.
It is no secret that our tax code is drastically outdated and burdensome to all Americans. Fortunately, more and more people are aware daily of the inequities that arise from things such as the estate tax, and it has come to the forefront of Congress' agenda.
Reconciliation is a special budget procedure to change entitlement and tax laws. It cannot be filibustered and requires only a simple majority in the Senate to be passed. It is primarily intended for deficit and mandatory spending reduction.
I wish that the Democrats would put some effort into Social Security reform, illegal immigration's reform, tax reform, or some of the other real issues that are out there.
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.
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