It used to be that we taxed property - zapped farmers basically. And there were very rich people who didn't pay that much tax. So in 1913, they put in the income tax. It was incredibly popular. The tax we love to hate today.
Professor Eric Zolt of UCLA, said to me, "The VAT is such a good idea, mark my words, within five years, the U.S. will have a VAT." Then he said, "Of… - T.R. Reid
Professor Eric Zolt of UCLA, said to me, "The VAT is such a good idea, mark my words, within five years, the U.S. will have a VAT." Then he said, "Of…
- T.R. Reid
It was an easy thing to tax for a young country. And then gradually we moved to property taxes, manufacturing taxes, and the income tax was the answe… - T.R. Reid
It was an easy thing to tax for a young country. And then gradually we moved to property taxes, manufacturing taxes, and the income tax was the answe…
France, they're the world champion at soaking the rich on taxes. And at one point, they had what they called a hyper tax, 75 percent, and Gérard Depa… - T.R. Reid
France, they're the world champion at soaking the rich on taxes. And at one point, they had what they called a hyper tax, 75 percent, and Gérard Depa…
We have the most expensive compliance system in the world. The IRS brags that they spend 35 cents for every $100 they collect. They're very efficient… - T.R. Reid
We have the most expensive compliance system in the world. The IRS brags that they spend 35 cents for every $100 they collect. They're very efficient…
We cut tax exemptions in 1986, it was the most admired tax reform in U.S. history. Congress and the president worked together then to eliminate score… - T.R. Reid
We cut tax exemptions in 1986, it was the most admired tax reform in U.S. history. Congress and the president worked together then to eliminate score…
If you get rid of all these giveaways and loopholes and deductions and credits, then you can sharply lower the rates. - T.R. Reid
If you get rid of all these giveaways and loopholes and deductions and credits, then you can sharply lower the rates.
Relative to the world's other advance democracies, Americans get off easy on tax day. Of the 35 richest countries, the U.S. ranks 32nd in total tax b… - T.R. Reid
Relative to the world's other advance democracies, Americans get off easy on tax day. Of the 35 richest countries, the U.S. ranks 32nd in total tax b…
The higher the rate, the more interest there is in avoiding the tax. Either you move or you shift your profits overseas, as American corporations hav… - T.R. Reid
The higher the rate, the more interest there is in avoiding the tax. Either you move or you shift your profits overseas, as American corporations hav…
Mortgage is one of the most popular deductions. It costs the Treasury about $103 billion a year. Now that's money we could use to treat wounded veter… - T.R. Reid
Mortgage is one of the most popular deductions. It costs the Treasury about $103 billion a year. Now that's money we could use to treat wounded veter…
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