Nothing is more dangerous that the politician who uses politics as a surrogate for an unsatisfactory personal life.
Denis HealeyRead
The difference between tax avoidance and tax evasion is the thickness of a prison wall.
Interpretation
What this quote means
Tax avoidance is legal, while tax evasion is illegal and can lead to imprisonment.
This quote by Denis Healey highlights the fine line between legal tax avoidance strategies and illegal tax evasion practices. It underscores the ethical and legal boundaries individuals and businesses must navigate in their financial dealings, suggesting that missteps in this area can have serious consequences, potentially leading to imprisonment for those who cross into evasion.
Themes
TaxAvoidanceEvasionFinanceLawPrison
In practice
Example use cases
During a seminar on financial literacy, this quote could be used to highlight the importance of understanding legal versus illegal tax strategies.
More from Denis Healey
All quotes βSimilar quotes
In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we're doing wonderful. Then, every single year like clockwork, starting in November, all of you fall into this trap that says, 'I have to buy this gift... I can't show up at this party and not have something for everybody.
Suze OrmanRead
People who want to know how stocks fared on any given day ask, "Where did the Dow close?" I'm more interested in how many stocks went up versus how many went down. These so-called advance/decline numbers paint a more realistic picture.
Peter LynchRead
The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.
Charlie MungerRead
It's difficult to make your clients understand that there are certain days that the market will go up or down 2%, and it's basically driven by algorithms talking to algorithms. There's no real rhyme or reason for that. So it's difficult. We just try to preach long-term investing and staying the course.
Warren StephensRead
When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.
George SorosRead
The financial industry is a service industry. It should serve others before it serves itself.
Christine LagardeRead