Results for “tax”

Taxes are the price of civilisation.

Supreme Court Justice; Major Legal Scholar & Reformer

We have to get out of this 'tax to spend' mentality and think about using resources to create investment funds that support local businesses, while also expecting to get something back as those businesses appreciate. Those are very different mentalities.

Director of MIT Media Lab; expert in network science and complexity

Governments are keen to levy brutal taxes on the very engines that create the market for goods and services; lowering their propensity to spend and invest by removing the surpluses they would normally use to do so.

Unfair taxation cripples economic development in a manner not dissimilar to third-world economic corruption.

Look at something like Uber... on balance- it's still a taxi service! In the end, what they designed was a different way to connect customers and a service provider using technology, leading to a better experience for both.

Once you have transparency on impact, why would you tax all companies for the damage caused by some? You would tax the ones who create the damage. I hope we therefore shift to a fairer taxation system that improves the position of governments.

Founder of Social Venture Network & Pioneer of Social Impact Investing

We have to get out of this 'tax to spend' mentality and think about using resources to create investment funds that support local businesses, while also expecting to get something back as those businesses appreciate.

Physicist & Director of MIT Media Lab Connection Science group

I've been doing this a long time and have very rarely seen a company with sustainable competitive advantage like Amazon has. They have a very low cost of capital, they are very efficient, and the government provide an additional advantage in that the transactions are not tax.

Unknown.

For the societies themselves, this activity drains hard currency reserves, heightens inflation, reduces tax collection, curtails government service and undermines investment. There is no good accomplished by this massive outflow of resources.

The important thing which central government can do is to promise, without reservation, that there will be no new taxation and 'emergency' taxation- and that they will focus on collecting existing taxes by expanding the tax-base to those who are evading taxes.

Professor of Economics specializing in network economics and digital markets

If Greece gets serious about privatisation, reducing the state sector and collecting existing taxes... if these things are done, whilst also reducing democracy? Then I believe Greece will emerge as a very significant success story. It could get the primary deficit eliminated in two years- creating a surplus.

Professor of Economics specializing in network economics and digital markets

I would essentially- start by abandoning everything Osborne set out to do. I would be cutting taxes, not raising them. I would immediately reverse the VAT raise that he had. I would immediately remove national insurance on the young, and give firms very big tax incentives to hire and invest. I would impose those within an hour of taking office.

Former Federal Reserve Member & Leading Labor Economics Scholar

The government turned a profit on the financial market aspects of TARP- a profit! One of the many sad legacies about this episode is the bad name given to fiscal stimulus and TARP. You can't even use those terms in the United States any more without thinking of a euphemism. People still think these measures cost American taxpayers a huge amount of money and did no good. The facts are exactly the reverse.

Prominent Economist & Former Vice Chair of Federal Reserve Board

There is nothing, however, in standard theories of money that requires transactions to be anonymous from tax- or law-enforcement authorities. And yet there is a significant body of evidence that a large percentage of currency in most countries, generally well over 50%, is used precisely to hide transactions.

Economist & Harvard Professor; Former IMF Chief Economist

Essentially therefore you have a three-pronged approach. Firstly privatisation, secondly cutting the size of the state and thirdly- collecting existing taxes (rather than imposing any new ones).

Professor of Economics specializing in network economics and digital markets

I would essentially start by abandoning everything Osborne set out to do. I would be cutting taxes, not raising them. I would immediately reverse the VAT raise that he had. I would impose those within an hour of taking office.

Former Federal Reserve Member & Leading Labor Economics Scholar

The government turned a profit on the financial market aspects of TARP- a profit! People still think these measures cost American taxpayers a huge amount of money and did no good. The facts are exactly the reverse.

Prominent Economist & Former Vice Chair of Federal Reserve Board

There is nothing, however, in standard theories of money that requires transactions to be anonymous from tax- or law-enforcement authorities. And yet there is a significant body of evidence that a large percentage of currency in most countries, generally well over 50%, is used precisely to hide transactions.

Economist & Harvard Professor; Former IMF Chief Economist

Power is the ability to get things done, to have your way and to make people do things they perhaps didn't want to do – such as pay taxes or go to war.

Contributing to society comes in many forms. Meaningful careers not only fulfil our team members but also drive the broader economy as employees become taxpayers. This virtuous circle is a fundamental contribution to society.

There's this sense that our institutions have failed us. The very rich generally pay lower effective tax rates than middle-class and lower-income individuals. There's a sense that the system is broken, the rules of the game are rigged.

There are three devils that inhibit economic growth. The first is that the government takes up too much of the economy. The second is that taxes take too much out of the economy. And the third is that there's too much regulation.