If you want to leave move money in the hands of poor people, you cannot do it through personal income tax cuts. You have to just give them money.
We definitely are a supporter of lowering corporate income tax and managing through the reprehension of cash for companies because we do think that'll give them more ammunition to grow their businesses and expand what they do.
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.
When I started to pay income tax, I was 50 years old.
Tax expenditures for middle- and working-class Americans - like the earned income tax credit - aren't thought of as loopholes; they're just thought of as benefits.
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.
Putting, say, an 85 per cent income tax rate is unlikely to bring in much revenue.
I favor the abolition of all Social Security, Medicare and estate taxes. In their place, we should create a simple income tax system that has no deductions or credits at all.
Few Americans realize it, but the United Nations is driving to take control over the Internet. You remember, the folks who want a worldwide income tax and who put Syria and Iran on their Human Rights Committee.
We vetoed five income tax increases during my time as governor. We cut business taxes $2.3 billion, and we cut regulation by one-third of what my predecessor put in place.
