Quotes about income
page 3

“Today the changes that are generating enormous inequality, progressively destroying "real jobs" with security and benefits, demanding longer and longer hours and at least two incomes per household as prerequisites for a minimally middle-class existence, and depriving people of control over their work even in the professional classes are taking place in the absence of any credible opposition to the free-market dogma that rules the day. On the contrary, the capitalist triumphalists are riding high on a wave of "prosperity" that has enriched a minority of the population while obscuring the long-term slippage of our standard of living and our quality of life.”

Ellen Willis (1941–2006) writer, activist

"How Now, Iron Johns?", The Nation (13 December 1999)

Life, People, Change

“[We may view the] economic organization as a system of prize relations. Seen in the large, free enterprise is an organization of production and distribution in which individuals or family units get their real income, their "living," by selling productive power for money to "business units" or "enterprises", and buying with the money income thus obtained the direct goods and services which they consume. This view, it will be remembered, ignores for the sake of simplicity the fact that an appreciable fraction of the productive power in use at any time is not really employed in satisfying current wants but to make provision for increased want-satisfaction in the future; it treats society as it would be, or would tend to become, with progress absent, or in a “static” state.”

Frank Knight (1885–1972) American economist

Source: The Economic Organization, 1933., p.59-60; on the circular-flow of income and the circular-flow diagram.

Money, Family, Business, Time

“The incoming government is not going to leave our people in the dark. Paddy likes to know what the story is.”

Enda Kenny (1951) Irish Fine Gael politician and Taoiseach

During an election count interview with Richard Crowley on RTÉ Television on 26 February 2011. “Paddy likes to know what the story is” – Ireland’s Taoiseach-in-waiting promises to tell the truth http://www.thejournal.ie/paddy-likes-to-know-what-the-story-is-irelands-taoiseach-in-waiting-promises-to-tell-the-truth-92285-Feb2011/ TheJournal.ie, 2011-02-26. Ministers would like Paddy to know that they didn't know at all, at all http://www.independent.ie/opinion/analysis/ministers-would-like-paddy-to-know-that-they-didnt-know-at-all-at-all-30138535.html Sunday Independent, 2014-03-30. Ireland's historic election: What they said http://www.spotlight-online.de/news/politics/irelands-historic-election-what-they-said Spotlight: Einfach Englisch! 2011-02-28. 2010s

People

“A country of our size, with its focus on exports and thus reliance on foreign trade, must be aware that … military deployments are necessary in an emergency to protect our interests -- for example when it comes to trade routes, for example when it comes to preventing regional instabilities that could negatively influence our trade, jobs and incomes.”

Horst Köhler (1943) German politician (CDU); president of Germany, 2004-2010

http://www.spiegel.de/international/germany/controversy-over-afghanistan-remarks-german-president-horst-koehler-resigns-a-697785.html

Country

“He (Donald Trump) called for a new tax loophole – let’s call it the Trump Loophole – because it would allow him to pay less than half the current tax rate on income from many of his companies. He’d pay a lower rate than millions of middle class families.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Speech in Warren, Michigan (August 11, 2016)

Family

“The profit motive and the competitive struggle are more productive and less destructive on the frontier than in the city. Maldistribution of income becomes more devastating with increasing complexity and interdependence.”

Kirby Page (1890–1957) American clergyman

Property (1935)

Motivation

“It may be that there is nothing more demoralizing than a small but adequate income.”

Edmund Wilson book Memoirs of Hecate County

Memoirs of Hecate County (1946) [New York Review Books Classics, 2004], Ch. 4, p. 136

“We have a crisis in higher education today. Too many of our young people cannot afford a college education and those who are leaving college are faced with crushing debt. It is a national disgrace that hundreds of thousands of young Americans today do not go to college, not because they are unqualified, but because they cannot afford it. This is absolutely counterproductive to our efforts to create a strong competitive economy and a vibrant middle class. This disgrace has got to end. In a global economy, when our young people are competing with workers from around the world, we have got to have the best educated workforce possible. And, that means that we have got to make college affordable. We have got to make sure that every qualified American in this country who wants to go to college can go to college -- regardless of income. Further, it is unacceptable that 40 million Americans are drowning in more than $1.2 trillion in student loan debt. It is unacceptable that millions of college graduates cannot afford to buy their first home or their first new car because of the high interest rates they are paying on student debt. It is unacceptable that, in many instances, interest rates on student loans are two to three times higher than on auto loans.”

Bernie Sanders (1941) American politician, senator for Vermont

Bernie Sanders Statement by Senator Bernard Sanders on the College for All Act http://www.sanders.senate.gov/download/051915-highered/?inline=file (19 May 2015) 2010s, 2015

People, World, Education, Cars

“Income taxation appeals to the governing class because in its everlasting urgency for power it needs money. Income taxation appeals to the mass of people because it gives expression to their envy; it salves their sense of hurt. The only beneficiaries of income taxation are the politicians, for it not only gives them the means by which they can increase their emoluments but it also enables them to improve their importance. The have-nots who support the politicians in the demand for income taxation do so only because they hate the haves; although they delude themselves with the thought that they might get some of the pelt the fact is that the taxing of incomes cannot in any way improve their economic condition. So that, the sum of all the arguments for income taxation comes to political ambition and the sin of covetousness.”

Frank Chodorov (1887–1966) American libertarian thinker

Source: The Income Tax: Root of All Evil (1954), p. 27

Money, Hate, People, Way

“The relatively strong Jewish element in Hungary was a particular thorn in [Hitler's] flesh, especially as many Jews were eminent in Hungarian finance, commerce and industry, in the press and in the professions. Of course, the bourgeois middle classes cherished a feeling of resentment that the executive posts and the offices in the liberal professions most in demand were in Jewish hands. The Jews supported each other with the solidarity of their race and earned more than twenty-five percent of the national income. After the First World War, there had been a wave of open anti-Semitism in Hungary. Even writers with left-wing sympathies have pointed out that nine-tenths of the higher positions of Béla Kun’s regime were filled by Jews. It was, therefore, humanly understandable that the crimes of the Communists were attributed to the Jews. But the innate Hungarian sense of fairness and justice, strengthened by the efforts of both Catholic and Protestant Churches to suppress all forms of racial prejudice, soon re-established good relations between Jews and non-Jews.”

Miklós Horthy (1868–1957) Hungarian Admiral and Regent 1920-1944

Source: Memoirs, p. 208

War, World, Justice, Feeling

“Growth can also involve producing services instead of goods. In particular, a major expansion of public and caring services (like child care, education, elder care, and other life-affirming programs) would generate huge increases in GDP and incomes, with virtually no impact on the environment.”

Jim Stanford (1961) Canadian economist

Part 3, Chapter 15, Capitalism and the Environment, p. 183
Economics For Everyone (2008)

Life, Education

“With the market so much more in control of the global economy now than fifty years ago, then if economists are right, the world should be a manifestly better place: it should be growing faster, with more stability, and income should go to those who deserve it.”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 1, No More Mister Nice Guy, p. 2

World

“The central theme of this paper is the character and causes of long-term changes in the personal distribution of income. Does inequality in the distribution of income increase or decrease in the course of a country's economic growth? What factors determine the secular level and trends of income inequalities?”

Simon Kuznets (1901–1985) economist

Source: "Economic growth and income inequality," 1955, p. 1

Change, Personality, Country

“The so-called free market does not provide consumers with proper information, because the social and environmental costs of production are not part of the current economic models…. an ecological tax reform would be strictly revenue neutral, shifting the tax burden from income taxes to "eco-taxes." …the taxes would be added to existing products, forms of energy, services, and materials, so that prices would better reflect true costs.”

Fritjof Capra (1939) American physicist

Epilogue: Ecological Literacy
The Web of Life (1996)

Parting

“In western society, there is a problem similar to India that the income of a research scientist is less than that of a management person. But perhaps the facilities and the infrastructure being much advanced in the western universities, they are able to attract and retain the people. In our case this can happen but not to the extent we would like. A corrective measure to some extent has been taken by the establishment of the Indian Institutes of Science Education and Research (IISERs). They are doing for pure sciences what IIT’s do for applied sciences. Since they are attracting good talent it may happen that you will have more input in research in the next ten years.”

Jayant Narlikar (1938) Indian physicist

On the decline of interest in science education among students
An Exclusive Interview with Prof. Jayant Vishnu Narlikar

People, Education, Problem, Universe

“The primary driver of final consumer demand is, of course, the level of disposable income.”

Peter Dicken (1938) British geographer

Source: Global Shift (2003) (Fourth Edition), Chapter 14, The Distribution Industries, p. 475

“Now the employer is to be told that if the unions force him to pay exorbitant wages or go out of business if he tries to continue, he will be taxed. The unions will escape any punishment. The employer will not be allowed to increase employment by paying lower wages nor to attract good labour by paying higher wages. We shall have another huge department to supervise the whole operation…an incomes policy is minted in the thinking of 1945.”

Jo Grimond (1913–1993) British soldier, politician and academic

In The Spectator (25 September, 1982).

Business, Thinking

“What is scandalous is not that stupid people should sometimes inherit private incomes; but that clever people should sometimes not.”

Celia Green (1935) British philosopher

The Decline and Fall of Science (1976)

People, Stupidity

“Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.”

Joan Robinson (1903–1983) English economist

Source: Contributions to Modern Economics (1978), Chapter 16, The Theory of Value Reconsidered, p. 188

Waiting

“Are we happy that 99% of all new income is going to the top 1%? Are we happy that one family in this country owns more than the bottom 130 million people?”

Bernie Sanders (1941) American politician, senator for Vermont

Late Night with Seth Meyers, (2 June 2015)
2010s, 2015

Happiness, People, Family, Country

“In a class system, the social hierarchy is based primarily upon differences in monetary wealth and income. Social classes are not sharply marked off from each other, nor are they demarcated by tangible boundaries. Unlike estates, they have no legal standing, individuals of all classes being in principle equal before the law. Consequently, there are no legal restraints on the movement of individuals and families from one class to another… Unlike caste, social classes are not organized, closed groups. Rather, they are aggregates of persons with similar amounts of wealth and property, and similar sources of income.”

Walter F. Buckley (1922–2006) American sociologist

Source: Class and society (1959), p. 15; as cited in: Ronald J. Samuda (1998) Psychological Testing of American Minorities: Issues and Consequences. p. 47.

Family, Law, Personality, Wealth

“But how is the spirit of expenditure to be exorcised? Not by preaching; I doubt if even by yours. I seriously doubt whether it will ever give place to the old spirit of economy, as long as we have the income-tax. There, or hard by, lie questions of deep practical moment.”

William Ewart Gladstone (1809–1898) British Liberal politician and prime minister of the United Kingdom

Letter to Richard Cobden (5 January 1864), quoted in The Life of William Ewart Gladstone Volume II (1903) by John Morley, p. 62
1860s

Lie, Question

“During the relatively brief period in the late 1960s when economists were pondering the possible obsolescence of business cycles, the scholarly discipline of macroeconomics showed signs of becoming fragmented into speciality areas devoted to components of the then popular large-scale econometric models-for example, consumption, investment, money demand, and the Phillips curve. But more recently the revival of severe real world business cycles, together with the revolutions associated with Milton Friedman's monetarism and Lucas's classical equilibrium models, has brought about a revival of interest in economic analysis that focuses on a few broad aggregates summarizing activity in the economy as a whole-nominal and real income, the inflation rate, and the unemployment rate.”

Robert J. Gordon (1940) American economist

Source: The American Business Cycle, 1986, p. 2

Money, World, Business

“When Ralph Goodale tried to tax Income Trusts they showed us where they stood, they showed us their attitude towards raiding Seniors hard earned assets and a Conservative government will never allow either of these parties to get away with that.”

Stephen Harper (1959) 22nd Prime Minister of Canada

39th Canadian General Election 2006 http://www.youtube.com/watch?v=U9mibZYpVPY - On October 31, 2006, barely ten months into the Conservative run minority Government of Canada, Canadian (Conservative) federal Finance Minister Jim Flaherty announced a new 34% tax on income trust distributions. 2006

“Nine months ago, our campaign began. And when it began, we had no political organization, no money, and not much name recognition outside of the state of Vermont. A lot has happened in nine months.
And what has happened is, I think, the American people have responded to a series of basic truths, and that is that we have today a campaign finance system which is corrupt, which is undermining American democracy, which allows Wall Street and billionaires to pour huge sums of money into the political process to elect the candidates of their choice.
And aligned with a corrupt campaign finance system is a rigged economy. And that's an economy where ordinary Americans are working longer hours for low wagers. They are worried to death about the future of their kids. And yet they are seeing almost all new income and all new wealth going to the top 1 percent.
And then in addition to that, the American people are looking around and they see a broken criminal justice system. They see more people in jail in the United States of America than any other country on earth, 2.2 million. We're spending $80 billion a year locking up fellow Americans.”

Bernie Sanders (1941) American politician, senator for Vermont

2010s, 2016, Democratic Presidential Debate in Milwaukee, Wisconsin (11 February 2016)

Death, Money, People, Truth

“The doctrine of the Essens is this: That all things are best ascribed to God. They teach the immortality of souls, and esteem that the rewards of righteousness are to be earnestly striven for; and when they send what they have dedicated to God into the temple, they do not offer sacrifices because they have more pure lustrations of their own; on which account they are excluded from the common court of the temple, but offer their sacrifices themselves; yet is their course of life better than that of other men; and they entirely addict themselves to husbandry. It also deserves our admiration, how much they exceed all other men that addict themselves to virtue, and this in righteousness; and indeed to such a degree, that as it hath never appeared among any other men, neither Greeks nor barbarians, no, not for a little time, so hath it endured a long while among them. This is demonstrated by that institution of theirs, which will not suffer any thing to hinder them from having all things in common; so that a rich man enjoys no more of his own wealth than he who hath nothing at all. There are about four thousand men that live in this way, and neither marry wives, nor are desirous to keep servants; as thinking the latter tempts men to be unjust, and the former gives the handle to domestic quarrels; but as they live by themselves, they minister one to another. They also appoint certain stewards to receive the incomes of their revenues, and of the fruits of the ground; such as are good men and priests, who are to get their corn and their food ready for them. They none of them differ from others of the Essens in their way of living, but do the most resemble those Dacae who are called Polistae [dwellers in cities].”

Josephus on the Essenes

AJ 18.1.5
Antiquities of the Jews

Life, Men, God, Food

“What troubles me is that we will see in Germany no approximation of the East German income to the West German income anymore, because productivity stays so far behind.”

Helmut Schmidt (1918–2015) Chancellor of West Germany 1974-1982

speech "The catch-up process of the East has gone to end in 1996 - What to do?" at the 10. May 2004 for the "Erfurt Dialogues", thueringen.de http://www.thueringen.de/de/tsk/veranstaltungen/dialog/archiv/schmidt/

“There are 47% of the people who will vote for the president no matter what. All right, there are 47% who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that's an entitlement. And the government should give it to them. And they will vote for this president no matter what.

And I mean the president starts off with 48, 49, 4— he starts off with a huge number. These are people who pay no income tax. 47% of Americans pay no income tax. So our message of low taxes — doesn't connect. So he'll be out there talking about tax cuts for the rich.

I mean, that's what they sell every four years. And so my job is not to worry about those people. I'll never convince them they should take personal responsibility and care for their lives.”

Mitt Romney (1947) American businessman and politician

2012-09-17
Secret Video: Romney Tells Millionaire Donors What He Really Thinks of Obama Voters
David
Corn
w:David Corn
Mother Jones
http://www.motherjones.com/politics/2012/09/secret-video-romney-private-fundraiser
2012-09-18
Posed question: "For the past three years, all everybody's been told is 'don't worry, we'll take care of you'. How are you going to do it, in two months before the elections to convince everybody, you've got to take care of yourself?"
2012

People, Health, Food, Housing

“The European Commission uses an explicit relative poverty line of 60 per cent of national average income.”

Nicholas Barr (1943) British economist

Source: Economics Of The Welfare State (Fourth Edition), Chapter 6, Problems Of Definition And Measurement, p. 132

“The progressive movement is the lunatic fringe of the left. It is the home of everything that you despise. It is the home of income tax. It is the home of prohibition. It is the home of the Fed.”

Glenn Beck (1964) U.S. talk radio and television host

2010s, 2010

Home

“…[I]n three notable instances the Court has suffered severely from self-inflicted wounds. The first of these was the Dred Scott case. … There the Supreme Court decided that Dred Scott, a negro, not being a citizen could not sue in the United States Courts and that Congress could not prohibit slavery in the territories. … [T]he grave injury that the Court sustained through its decision has been universally recognized. Its action was a public calamity. … [W]idespread and bitter attacks upon the judges who joined in the decision undermined confidence in the Court. … It was many years before the Court, even under new judges, was able to retrieve its reputation.…[The second instance was] the legal tender cases decided in 1870. … From the standpoint of the effect on public opinion there can be no doubt that the reopening of the case was a serious mistake and the overruling in such a short time, and by one vote, of the previous decision shook popular respect for the Court.… [The third instance happened] [t]wenty-five years later, when the Court had recovered its prestige, [and] its action in the income tax cases gave occasion for a bitter assault. … [After questions about the validity of the income tax] had been reserved owing to an equal division of the Court, a reargument was ordered and in the second decision the act was held to be unconstitutional by a majority of one. Justice Jackson was ill at the time of the first argument but took part in the final decision, voting in favor of the validity of the statute. It was evident that the result [holding the statute invalid] was brought about by a change in the vote of one of the judges who had participated in the first decision. … [T]he decision of such an important question by a majority of one after one judge had changed his vote aroused a criticism of the Court which has never been entirely stilled.”

Charles Evans Hughes (1862–1948) American judge

"The Supreme Court of the United States: Its Foundation, Methods and Achievements," Columbia University Press, p. 50 (1928). ISBN 1-893122-85-9.

Justice, Confidence, Question, Decision

“The presidency is seemingly bound by law, but in practice it can do just about anything it pleases. It can order up troops anywhere in the world, just as Clinton bragged in his acceptance speech at the Democratic convention. It can plow up a religious community in Texas and bury its members because they got on somebody’s nerves at the Justice Department. It can tap our phones, read our mail, watch our bank accounts, and tell us what we can and cannot eat, drink, and smoke.
The presidency can break up businesses, shut down airlines, void drilling leases, bribe foreign heads of state or arrest them and try them in kangaroo courts, nationalize land, engage in germ warfare, firebomb crops in Colombia, overthrow any government anywhere, erect tariffs, round up and discredit any public or private assembly it chooses, grab our guns, tax our incomes and our inheritances, steal our land, centrally plan the national and world economy, and impose embargoes on anything anytime. No prince or pope ever had this ability.”

Lew Rockwell (1944) American libertarian author and editor

6 October 1996 "Down With the Presidency"
1990s

World, Justice, Law, Communication

“Cultural and behavioral scholars are uneasy about this use of their studies. Fortunately, the intellectual tide has begun to turn. Increasing numbers of economists have come to realize that standard economic theory is just as applicable to the scarcity problems that confront low income countries as to the corresponding problems of high income countries.”

Theodore Schultz (1902–1998) American economist

"The Economics of Being Poor," (1979)

Behavior, Problem, Study, Country

“We are obviously all hurt by inflation. Everybody is hurt by inflation. If you really wanted to examine who percentage-wise is hurt the most in their incomes, it is the Wall Street brokers. I mean their incomes have gone down the most.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

At a conference on inflation, Washington, D.C. (September 19, 1974). In Report of the Health, Education, and Welfare, Income Security, Social Services Conference on Inflation (1974), pp. 804–5.
1970s

Hurt

“I am very underleveraged. I have a great company. I have a tremendous income. And the reason I say that is not in a braggadocios way. It's because it's about time that this country had somebody running it that has an idea about money.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, September, First presidential debate (September 26, 2016)

Money, Way, Idea, Time

“Let us delve a little deeper into the matter of Income Tax. The long-suffering Public are blamed and where discovered heavily penalised for submitting wrong returns. No doubt there are many black sheep, as in all other walks of life, who deliberately do so, but, however, it is true that most of those who adopt this unsavory practice have been forced to do so. Let us consider what happens.”

Peter de Noronha (1897–1970) Indian businessman

The Pageant of Life (1964), On Income Tax

Life, Suffering

“The major disadvantage of the proposed negative income tax is its political implications. It establishes a system under which taxes are imposed on some to pay subsidies to others. And presumably, these others have a vote.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Source: (1962), Ch. 12 The Alleviation of Poverty, 2002 edition, p. 194

“Since 1965 […. ] the richest fifth of the world's population increased its average income by 75 percent. For the poorest fifth of the world's population, the increase has been faster still, with average incomes more than doubling during the same period.”

Johan Norberg book In Defense of Global Capitalism

In Defense of Global Capitalism

World

“From a theoretical point of view, lifetime income would be ideal, but the practical problems in estimating it are enormous.”

Harvey S. Rosen (1949) American economist

Source: Public Finance - International Edition - Sixth Edition, Chapter 6, Political Economy, p. 140

Problem

“…the power to control the supply of money, which is one of the fundamental aspects of sovereignty, has passed from government into other hands; and therefore new institutions must be set up which will in effect exercise some of the major functions of government. They would set the level of public expenditure, and settle fiscal policy, the exercise of taxing and borrowing powers of the state, since these are indisputedly the mechanism by which the money supply is determined. But they would do more than this. They would be supreme over the economic ends and the social structure of society: for by fixing prices and incomes they would have to replace the entire automatic system of the market and supply and demand—be that good or evil—and put in its place a series of value judgments, economic or social, which they themselves would have to make…There is a specific term for this sort of polity. It is, of course, totalitarian, because it must deliberately and consciously determine the totality of the actions and activities of the members of the community; but it is a particular kind of totalitarian regime, one, namely, in which authority is exercised and the decisions are taken by a hierarchy of unions or corporations—to which, indeed, on this theory the effective power has already passed. For this particular kind of totalitarianism the Twentieth Century has a name. That name is "fascist."”

Enoch Powell (1912–1998) British politician

Speech in Leamington (18 September 1972), quoted in The Times (19 September 1972), p. 12
1970s

Money, Exercises, Communication, Decision

“While the average Malaysian or Thai household spends only 34% of its income on food.”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

Food

“As time goes on, those who think that they live in democracies will live at best, in oligarchy or at worst under fascist regimes. In medieval times, people thought they were badly off when they paid tithes; a tenth of their income or produce to the feudal land lord. In this respect, they were better off than we are nowadays. Today more than one third of DM or dollar goes to service capital. Those who gain most are the super rich, multinationals, big insurance companies and banks.”

Margrit Kennedy (1939–2013) German architect

Source: Interest and Inflation Free Money (1995), Chapter Three, Who Would Profit From a New Monetary System?, p. 67

People, Democracy, Thinking, Time

“Under the Socialists, rapid strides have been taken towards the Iron Curtain State. We have seen increased nationalisation measures, increased powers of central Government over both large and small companies, increased levels of tax on the pay packet and on savings alike, and an increased proportion of the national income spent not by the wage-earner but by the Government or Government agencies. In the result, the Prime Minister has become the first Socialist Minister since the Chancellor of the Exchequer in 1951 to say that his policies will mean a reduced standard of living for our people…it is clear that Socialist systems are not good at creating wealth; they can only spend the wealth that others create.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech in the House of Commons (9 June 1976) http://www.margaretthatcher.org/document/103046 Leader of the Opposition

People, Wealth

“Plato argued that in a good society the ratio of the richest to the poorest person's income should be at the most four to one.”

Harvey S. Rosen (1949) American economist

Source: Public Finance - International Edition - Sixth Edition, Chapter 7, Income Redistribution Conceptual Issues, p. 147

Personality

“I had, in my legal practice, often encountered really shocking examples of the devastating impact of the costs of long-term medical care on meagre incomes. And, just before I was elected, I had my own personal experience in paying very considerable bills for my mother's terminal illness.”

Judy LaMarsh (1924–1980) Canadian politician, writer, broadcaster and barrister.

Source: Memoirs Of A Bird In A Gilded Cage (1969), CHAPTER 6, The crisis of Confederation, p. 120-121

Personality

“Both in England and on the Continent a graduated property tax (l'impôt progressif) has been advocated, on the avowed ground that the state should use the instrument of taxation as a means of mitigating the inequalities of wealth. I am as desirous as any one that means should be taken to diminish those inequalities, but not so as to relieve the prodigal at the expense of the prudent.To tax the larger incomes at a higher percentage than the smaller is to lay a tax on industry and economy; to impose a penalty on people for having worked harder and saved more than their neighbours. It is not the fortunes which are earned, but those which are unearned, that it is for the public good to place under limitation.”

John Stuart Mill (1806–1873) British philosopher and political economist

Principles of Political Economy http://www.econlib.org/library/Mill/mlP64.html (1848), Book V, Chapter II

People, Penalty, Wealth

“Regulatory policies are inherently redistributive; that is, they involve the seizure of earned income for purposes of allocating this income in ways the government’s policymakers believe are more important than do those whose income has been seized.”

Tibor R. Machan (1939–2016) Hungarian-American philosopher

Source: Private Rights and Public Illusions (1994), p. 154

Way

“We have a high standard of living. … In Norway, we've tripled our income since 1970. In the rest of western Europe, income has merely doubled.”

Jens Stoltenberg (1959) Norwegian politician, 13th Secretary-General of NATO, 27th Prime Minister of Norway

Interview in Torgrim Eggen (2001). " At the Top: An interview with Jens Stoltenberg http://www.torgrimeggen.no/Reportasje/jens.htm", Scanorama. 2000s

“I'm not getting elected dictator or king. But if I could wave a magic wand, I would eliminate income tax. I would eliminate corporate tax. And I would replace it with one federal consumption tax.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

2016, Interview with CNBC's John Harwood (August 22, 2016)

“I’m a very big believer in the idea that if a Jew lives like a Jew and, as it is written, sets aside tithes or a fifth of his income — then the Holy One, blessed be he, pays him back. I know that from my personal experience. The more I give every year, the more I have.”

Lev Leviev (1956) Soviet-born Israeli businessman, philanthropist and investor

Interview, Jewish Chronicle, 7 March 2008 http://thejc.com/home.aspx?AId58607&ATypeId1&searchtrue2&srchstrLev%20leviev&srchtxt1&srchhead1&srchauthor1&srchsandp1&scsrch0

Idea, Personality

“By lowering their expenditure on food, we would be awarding every family with an increase in disposable income, and mitigate labor demands for wage increases.”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

Family, Food

“We are now more Socialist in many ways than any other developed country outside the Communist bloc—in the size of the public sector, the range of controls and the telescoping of net income. And what is the result? Compare our position today with that of our neighbours in north west Europe—Germany, Sweden, Holland, France. They are no more talented than we are. Yet, compared with them, we have the longest working hours, the lowest pay and the lowest production per head. We have the highest taxes and the lowest investment. We have the least prosperity, the most poor and the lowest pensions. We have the largest nationalized sector and the worst labour troubles.”

Keith Joseph (1918–1994) British barrister and politician

Speech in Upminster http://www.margaretthatcher.org/archive/displaydocument.asp?docid=110604 (22 June 1974) 1970s

Way, Country

“I think there are things of which I and the people who have worked with me can feel deservedly proud. They include restoring Russia's territorial integrity, strengthening the state, progress towards establishing a multiparty system, strengthening the parliamentary system, restoring the Armed Forces' potential and, of course, developing the economy. As you know, our economy has been growing by 6.9 percent a year on average over this time, and our GDP has increased by 7.7 percent over the first four months of this year alone.
When I began my work in the year 2000, 30 percent of our population was living below the poverty line. There has been a two-fold drop in the number of people living below the poverty line since then and the figure today is around 15 percent. By 2009-2010, we will bring this figure down to 10 percent, and this will bring us in line with the European average.
We had enormous debts, simply catastrophic for our economy, but we have paid them off in full now. Not only have we paid our debts, but we now have the best foreign debt to GDP ratio in Europe. Our gold and currency reserve figures are well known: in 2000, they stood at just $12 billion and we had a debt of more than 100 percent of GDP, but now we have the third-biggest gold and currency reserves in the world and they have increased by $90 billion over the first four months of this year alone.
During the 1990s and even in 2000-2001, we had massive capital flight from Russia with $15 billion, $20 billion or $25 billion leaving the country every year. Last year we reversed this situation for the first time and had capital inflow of $41 billion. We have already had capital inflow of $40 billion over the first four months of this year. Russia's stock market capitalisation showed immense growth last year and increased by more than 50 percent. This is one of the best results in the world, perhaps even the best. Our economy was near the bottom of the list of world economies in terms of size but today it has climbed to ninth place and in some areas has even overtaken some of the other G8 countries' economies. This means that today we are able to tackle social problems. Real incomes are growing by around 12 percent a year. Real income growth over the first four months of this year came to just over 18 percent, while wages rose by 11-12 percent.
Looking at the problems we have yet to resolve, one of the biggest is the huge income gap between the people at the top and the bottom of the scale. Combating poverty is obviously one of our top priorities in the immediate term and we still have to do a lot to improve our pension system too because the correlation between pensions and the average wage is still lower here than in Europe. The gap between incomes at the top and bottom end of the scale is still high here – a 15.6-15.7-fold difference. This is less than in the United States today (they have a figure of 15.9) but more than in the UK or Italy (where they have 13.6-13.7). But this remains a big gap for us and fighting poverty is one of our biggest priorities.”

Vladimir Putin (1952) President of Russia, former Prime Minister

When asked in June 2007 at the interview with G8 journalists about main achievements of his presidency http://web.archive.org/web/20070607221025/http://www.kremlin.ru/eng/speeches/2007/06/04/2149_type82916_132772.shtml.

People, World, Feeling, Problem

“The most graphic description of the Muslim army is by a Hindu, the famous Maithli poet Vidyapati of the fourteenth century. Vidyapati was patronised by Sultans Ghiyasuddin and Nasiruddin of Bengal. Writing about Muslim soldiers, he says:
“Sometimes they ate only raw flesh. Their eyes were red with the intoxication of wine. They could run twenty yojanas within the span of half of a day. They used to pass the day with the (bare) loaf under their arm… (The soldier) takes into custody all the women of the enemy’s city… Wherever they happened to pass in that very place the ladies of the Raja’s house began to be sold in the market. They used to set fire to the villages. They turned out the women (from their homes) and killed the children. Loot was their (source of) income. They subsisted on that. Neither did they have pity for the weak nor did they fear the strong… They had nothing to do with righteousness… They never kept their promise… They were neither desirous of good name, not did they fear bad name…”
At another place he says: “Somewhere a Musalman shows his rage and attacks (the Hindus)… It appears on seeing the Turks that they would swallow up the whole lot of Hindus.””

Vidyapati

Vidyapati, Kirtilata. Quoted from Lal, K. S. (1992). The legacy of Muslim rule in India. New Delhi: Aditya Prakashan.

Women, Children, Fear, Home

“I have already remarked that the 'theory of scarcity has been a dominating influence in many of our economic policies. In the case of taxation, however, there is involved the 'theory of plenty' and there must now be involved the 'theory of plenty more.' Every dollar of the billions that are being indiscriminately spent without accountability is a mortgage on the income, the savings, as well as the security of the people. There must be brought home to the consciousness of all that the more the government takes, the less each one has no one can possibly escape.”

Alfred P. Sloan (1875–1966) American businessman

New York Times interview, 1935

People, Home

“One of these is an increasing awareness of the benefits to our economy, particularly in terms of investment and enterprise, both local and from overseas, of not having the inquisitorial type of tax system inevitably associated with a full income tax. Another is that even I, who have always believed in the vigour of our economy under our present tax regime, have been surprised by the growth of revenue generated at our present tax rates.”

John James Cowperthwaite (1915–2006) British colonial administrator

March 29, 1967, page 248.
Official Report of Proceedings of the Hong Kong Legislative Council

“Class, conservatives insist, is not really about money or birth or even occupation. It is primarily a matter of authenticity, that most valuable cultural commodity. Class is about what one drives and where one shops and how one prays, and only secondarily about the work one does or the income one makes. What makes one a member of the noble proletariat is not work per se, but unpretentiousness, humility, and the rest of the qualities that our punditry claims to spy in the red states that voted for George W. Bush. The nation’s producers don’t care about unemployment or a dead-end life or a boss who makes five hundred times as much as they do. No. In red land both workers and their bosses are supposed to be united in disgust with those affected college boys at the next table, prattling on about French cheese and villas in Tuscany and the big ideas for running things that they read in books.This sounds like a complicated maneuver, but it should be quite familiar after all these years. We see it in its most ordinary, run-of-the-mill variety every time we hear a conservative pundit or politician deplore "class warfare"”

Thomas Frank book What's the Matter with Kansas?

meaning any talk about the failures of free-market capitalism — and then, seconds later, hear them rail against the "media elite" or the haughty, Volvo driving "eastern establishment."
Part II: The Fury Which Passeth All Understanding, Chapter Six: Persecuted, Powerless, and Blind (pp. 113-114).
What's the Matter with Kansas? (2004)

Life, Money, Boy, Idea

“Make no mistake, the point of cutting the personal income tax and the capital gains cut is to send an unmistakable message to business.”

Bill Richardson (1947) politician and governor from the United States

upon passage of supply side tax cuts
[Phil, Magers, http://www.upi.com/archive/view.php?archive=1&StoryID=20030219-071745-7704r, "New Mexico cuts taxes to stimulate economy", United Press International, 2003-02-19, 2006-08-21]

Business, Personality

“He fled to his usual refuge, that of hoping for some unforeseen turn of fortune, some favourable chance which would save him from unpleasant consequences – perhaps even justify his insincerity by manifesting prudence.
In this point of trusting in some throw of fortune's dice, Godfrey can hardly be called old-fashioned. Favourable Chance is the god of all men who follow their own devices instead of obeying a law they believe in. Let even a polished man of these days get into a position he is ashamed to avow, and his mind will be bent on all the possible issues that may deliver him from the calculable results of that position. Let him live outside his income, or shirk the resolute honest work that brings wages, and he will presently find himself dreaming of a possible benefactor, a possible simpleton who may be cajoled into using his interest, a possible state of mind in some possible person not yet forthcoming. Let him neglect the responsibilities of his office, and he will inevitably anchor himself on the chance, that the thing left undone may turn out not to be of the supposed importance. Let him betray his friend's confidence, and he will adore that same cunning complexity called Chance, which gives him the hope that his friend will never know. Let him forsake a decent craft that he may pursue the gentilities of a profession to which nature never called him, and his religion will infallibly be the worship of blessed Chance, which he will believe in as the mighty creator of success. The evil principle deprecated in that religion, is the orderly sequence by which the seed brings forth a crop after its kind.”

George Eliot (1819–1880) English novelist, journalist and translator

Source: Silas Marner: The Weaver of Raveloe (1861), Chapter 9 (at page 73-74)

Men, God, Religion, Law

“Democracy is unstable as a political system as long as it remains a political system and nothing more, instead of being, as it should be, not only a form of government but a type of society, and a manner of life which is in harmony with that type. To make it a type of society requires an advance along two lines. It involves, in the first place, the resolute elimination of all forms of special privilege which favour some groups and depress other, whether their source be differences of environment, of education, or of pecuniary income. It involves, in the second place, the conversion of economic power, now often an irresponsible tyrant, into a servant of society, working within clearly defined limits and accountable for its actions to a public authority.”

R. H. Tawney (1880–1962) English philosopher

Equality (1931)

Life, Education, Democracy

“Undoubtedly one of the most important provisions in the preparation for national defense is a proper and sound selective service act. Such a law ought to give authority for a very broad mobilization of all the resources of the country, both persons and materials. I can see some difficulties in the application of the principle, for it is the payment of a higher price that stimulates an increased production, but whenever it can be done without economic dislocation such limits ought to be established in time of war as would prevent so far as possible all kinds of profiteering. There is little defense which can be made of a system which puts some men in the ranks on very small pay and leaves others undisturbed to reap very large profits. Even the income tax, which recaptured for the benefit of the National Treasury alone about 75 per cent of such profits, while local governments took part of the remainder, is not a complete answer. The laying of taxes is, of course, in itself a conscription of whatever is necessary of the wealth of the country for national defense, but taxation does not meet the full requirements of the situation. In the advent of war, power should be lodged somewhere for the stabilization of prices as far as that might be possible in justice to the country and its defenders.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Toleration and Liberalism (1925)

Men, War, Justice, Law

“All decent people live beyond their incomes nowadays, and those who aren't respectable live beyond other people's. A few gifted individuals manage to do both.”

Saki The Chronicles of Clovis

"The Match Maker"
The Chronicles of Clovis (1911)

People

“"They lit us up! Missiles incoming! Six count, closing, dead astern!" "Back-trace the missile lock and feed it to the computer for counter-fire." "Great idea! I'll get right on that first thing as soon as I graduate from gunnery school!"”

Matthew Stover book Shatterpoint

Nick Rostu and Mace Windu, p. 330
Shatterpoint (2004)

School, Idea, Dead

“I can now present the first fundamental law of capitalism, which links the capital stock to the flow of income from capital. The capital/income ratio β is related in a simple way to the share of income from capital in national income, denoted α. The formula is
α = r × β
Where r is the rate of return on capital.
For example, if β=600% and r = 5%, then α = r × β = 30%.
In other words, if national wealth represents the equivalent of six years of national income, and the rate of return on capital is 5 percent per year, then capital’s share in national income is 30 percent.”

Thomas Piketty book Capital in the Twenty-First Century

Source: Capital in the Twenty-First Century (2013), p. 52.

Law, Way, Wealth

“In an earlier day, the rich lived at the expense of the poor, directly and unequivocally; in a modern economy, unproductive citizens increasingly live at the expense of productive ones—though in an equivocal way, since they are told, and believe, that they are disadvantaged and deserve more still. Today, in fact, a good half of the population of every modern nation is made up of people with little or no income, who are exempt from taxes and live, to a large extent, off the other half of the population, which pays taxes. If such a situation were to be radicalized, it could give rise to massive social conflict. The eminently plausible free-market thesis of exploitation by the unproductive would then have prevailed over the much less promising socialist thesis of the exploitation of labor by capital.”

Peter Sloterdijk (1947) German philosopher

The Grasping Hand (2010)

People, Way

“A fifty-seven-year-old college professor expressed it this way: "Yes, there's a need for male lib and hardly anyone writes about it the way it really is, though a few make jokes. My gut reaction, which is what you asked for, is that men—the famous male chauvinist pigs who neglect their wives, underpay their women employees, and rule the world—are literally slaves. They're out there picking that cotton, sweating, swearing, taking lashes from the boss, working fifty hours a week to support themselves and the plantation, only then to come back to the house to do another twenty hours a week rinsing dishes, toting trash bags, writing checks, and acting as butlers at the parties. It's true of young husbands and middleaged husbands. Young bachelors may have a nice deal for a couple of years after graduating, but I've forgotten, and I'll never again be young! Old men. Some have it sweet, some have it sour."Man's role—how has it affected my life? At thirty-five, I chose to emphasize family togetherness and income and neglect my profession if necessary. At fifty-seven, I see no reward for time spent with and for the family, in terms of love or appreciation. I see a thousand punishments for neglecting my profession. I'm just tired and have come close to just walking away from it and starting over; just research, publish, teach, administer, play tennis, and travel. Why haven't I? Guilt. And love. And fear of loneliness. How should the man's role in my family change? I really don't know how it can, but I'd like a lot more time to do my thing."”

Herb Goldberg (1937–2019) American psychologist

In Harness: The Male Condition, pp. 6–7
The Hazards of Being Male (1976)

Love, Life, Women, Men

“A person working 45 hours per week averages 44% more income than someone working 40 hours per week. That’s 44% more income for 13% more time.”

Warren Farrell (1943) author, spokesperson, expert witness, political candidate

Source: Why Men Earn More (2005), p. xviii.

Time, Personality

“During the years I was on the board of directors of the National Organization for Women [chapter] in New York City, the most resistant audiences I ever faced in the process of doing corporate workshops on equality in the workplace were not male executives—they were the wives of male executives. As long as her income came from her husband, she was not feeling generous when affirmative action let another woman have a head start vying for her husband’s (her) income.”

Warren Farrell book The Myth of Male Power

Source: The Myth of Male Power (1993), Part 1: The Myth of Male Power, p. 46.

Women, Feeling

“Here’s why I would recommend against [selling the U. S. stock markets short]…. Retail brokers normally require investors to hold any short-sale proceeds in U. S. dollars, usually earning no interest. The dollar, seen through my famously jaundiced eye, could lose more purchasing power than the security you sold short lost value…. I’ve got a much better idea, which is to borrow dollars and spend them to acquire foreign income-producing assets, using the income to pay the interest.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

Idea

“some evidence is available to indicate that, in India, an increase in the income of the poorer people leads to an increase in the size of the family; and also that this tapers off after a certain critical level of income is attained, and is followed by a reduction in the size of the family at higher levels of living When a sufﬁcient number of people reach the critical income, there would be a gradual decrease in the average birth rate with further increase in income.”

Prasanta Chandra Mahalanobis (1893–1972) Indian scientist

Quote, Professor P.C. Mahalanobis and the Development of Population Statistics in lndia

People, Family, Birth

“Now, my dear Philippine, a few words more. I am not rich; but my affairs are not in a deranged or desperate state, and were I to die to-day, and my property sold, it would fetch 5,000 dollars at least, so that I possess 2,000 dollars more than my father gave me. I have but 400 dollars salary; my practice is good, and becomes daily more lucrative; the income I derive from it now is more than sufficient to keep a good and respectable house; my prospects are flattering; but I can and must not name them at present; I will not bring them into account.”

Albrecht Thaer (1752–1828) German agronomist and an avid supporter of the humus theory for plant nutrition

My Life and Confessions, for Philippine, 1786

Housing

“Corporation executives, particularly the more prominent ones, and wealthy individuals generally decry the fact that the "New Deal" has fostered a feeling of class-consciousness among workers and low-income groups. Class-consciousness, however, is not new in this country, and it is most pronounced among those groups who decry it while not recognizing the phenomenon themselves. Common social backgrounds, common business interests, and common fears, prejudices, and loyalties create among those who possess wealth and economic power a strong and clear-cut feeling of membership in an economic and social class.”

Robert Aaron Gordon (1908–1978) American economist

Source: Business Leadership in the Large Corporation (1945), p. 252, footnote 12

Fear, Feeling, Business, Strong

“Statism is but socialized dishonesty; it is feathering the nests of some with feathers coercively plucked from others - on the grand scale. There is no moral — only a legal — distinction between petty thievery and political Robin Hoodism, which is to say, there is no moral difference between the act of a pickpocket and the progressive income tax or any other piece of socialization.”

Leonard E. Read (1898–1983) American academic

Anything That's Peaceful https://books.google.com/books?id=4wWA1vexxdsC&pg=PA74&lpg=PA74&dq=%22is+but+socialized+dishonesty;+it+is+feathering+the+nests+of+some+with+feathers+coercively+plucked+from+others+-+on+the+grand+scale.%22&source=bl&ots=1I89gu9Jmo&sig=8jpm9FnYbB87c8BB_twGQw8CC7o&hl=en&sa=X&ved=0ahUKEwjIuZ_58vLTAhXD4SYKHbHVAncQ6AEILDAB#v=onepage&q=%22is%20but%20socialized%20dishonesty%3B%20it%20is%20feathering%20the%20nests%20of%20some%20with%20feathers%20coercively%20plucked%20from%20others%20-%20on%20the%20grand%20scale.%22&f=false Anything That's Peaceful (1964)

“If wealth, power, and income continue to concentrate at the very tippy top, our society will change from a capitalist democracy to a neo-feudalist rentier society like 18th-century France. That was France before the revolution and the mobs with the pitchforks.”

Nick Hanauer (1959) American businessman

"Beware fellow plutocrats, the pitchforks are coming" TED (conference) August 2014 http://www.ted.com/talks/nick_hanauer_beware_fellow_plutocrats_the_pitchforks_are_coming/transcript?language=en

Democracy, Change, Wealth

“Dr. Russell, I concede that Washington has an atrocious climate. But you will have air-conditioned offices.”
“With clocks, no doubt. And secretaries. And soundproofing.”
“Anything you want, doctor.”
“The point is, Mr. Secretary, I don’t want them. This household has no clocks. Nor calendars. Once I had a large income and a larger ulcer; I now have a small income and no ulcer. I stay here.”

Robert A. Heinlein book Have Space Suit—Will Travel

“But the job needs you.”
“The need is not mutual.”
Source: Have Space Suit—Will Travel (1958), Chapter 1

“Government grows because low-income individuals use the political system to redistribute income toward themselves.”

Harvey S. Rosen (1949) American economist

Source: Public Finance - International Edition - Sixth Edition, Chapter 6, Political Economy, p. 128

“Powers that are constitutionally there can be used but the Scottish Labour Party is not planning to raise income tax and once the power is given it is like any parish council: it's got the right to exercise it.”

Tony Blair (1953) former Prime Minister of the United Kingdom

The Scotsman, 4 April 1997.
Asked whether he would intervene to prevent the Scottish Parliament from raising taxes.
1990s

Exercises

“The feminist-only funding leads to studies that misinform the nation that a divorced mother is economically more hurt than a divorced man, so judges feel a mandate to make his future income hers, and legislatures feel fine about refusing to make his mother subsidy payments tax deductible even as she pays no taxes on the money received. And all this perpetuates the belief that he earns more money….”

Warren Farrell (1943) author, spokesperson, expert witness, political candidate

Source: Father and Child Reunion (2001), p. 240.

Money, Feeling, Study, Future

“There is, I am convinced, a sea of goodwill out in the country of people and places yearning to help. We need to tap into it. We need to make that connection. We need to come up with new ways and new ideas to make life better for those affected by this war, so that kids can go to school, incomes can be sustained, and homes can be both purchased and lived in for a long time. The truth is, we live in deeds, not days; in actions and thoughts and feelings, not heartbeats. If the untimely battlefield deaths of generations of American heroes have taught us nothing else, it should be this unalterable fact: what you do with your time here on earth is far more important than the time you had to do it. Those who live most are those who love most, who act the noblest and do their best.”

Michael Mullen (1946) U.S. Navy admiral and 17th Chairman of the Joint Chiefs of Staff

From Op-Ed "Memorial Day" (26 May 2008)

Love, Life, Death, War

“Money income is a flawed measure of individual welfare.”

Nicholas Barr (1943) British economist

Source: Economics Of The Welfare State (Fourth Edition), Chapter 6, Problems Of Definition And Measurement, p. 128

Money

“A plausible interpretation is that higher income is associated with a reduced ability to enjoy the small pleasures of life. […] There is a clear contrast between the effects of income on experienced well-being and in life satisfaction. Higher income brings with it higher satisfaction, well beyond the point at which it ceases to have any positive effect on experience. […] Life satisfaction is not a flawed measure of their experienced well-being, as I thought some years ago. It is something else entirely.”

Daniel Kahneman book Thinking, Fast and Slow

Source: Thinking, Fast and Slow (2011), Chapter 37, "Experienced well-being", page 397 (ISBN 9780141033570).

Life, Pleasure

“We’ve set two goals: ending extreme poverty by 2030 and boosting shared prosperity. How are we going to get there? Generally speaking, it divides into three main categories. One is economic growth. If you look at the greatest achievements in lifting people out of poverty, China, almost through brute economic growth, lifted 600 million people out of poverty. The second big block is investment in human beings. In other words, making sure that the poorest people have some kind of income or sustenance to be able to consume and, potentially, participate in economic growth. And a third category is social protection.”

Jim Yong Kim (1959) Korean-American physician and anthropologist, 12th President of the World Bank

Banker to the Poor, A Conversation With Jim Yong Kim, October, 14

People

“Wealth — Any income that is at least $100 more a year than the income of one's wife's sister's husband.”

H.L. Mencken (1880–1956) American journalist and writer

1940s–present, A Mencken Chrestomathy (1949)

Sister, Wealth

“So far we have studies how, for each commodity by itself, the law of demand in connection with the conditions of production of that commodity, determines the price of it and regulates the incomes of its producers. We considered as given and invariable the prices of other commodities and the incomes of other producers; but, in reality the economic system is a whole of which the parts are connected and react on each other. An increase in the incomes of the producers of commodity A will affect the demand for commodities Band C, etc., and the incomes of their producers, and, by its reaction will involve a change in the demand for A. It seems, therefore, as if, for a complete and rigorous solution of the problems relative to some parts of the economic system, it were indispensable to take the entire system into consideration. But this would surpass the powers of mathematical analysis and of our practical methods of calculation, even if the values of all the constants could be assigned to them numerically.”

Antoine Augustin Cournot Researches into the Mathematical Principles of the Theory of Wealth

Source: Researches into the Mathematical Principles of the Theory of Wealth, 1897, p. 137

Law, Mathematics, Problem, Reality

“Money talk tends to be confusing. When people talk money, they usually think “wealth”, “costs”, “profit”, “income”, “gold”, “greed”, “time” (as in “time is money”), or something like that. In everyday discourse money symbolises capitalism, for better or worse: money as the life or evil force of the economy. As sings to us in the classical musical Cabaret: “Money makes the world go round… ”. The tune resonates when people exclaim “money” in response to the question what they are after in life, or when they say that everything people do ultimately revolves around money. All this talk is clear enough. The confusion enters when we observe the very same people who are so enthused about money, stubbornly suppress any reference to money when it comes to goods like the love for their partner, parents and children, friendship, science (truth!) and art (beauty!).”

Arjo Klamer (1953) Dutch columnist, economist and politician

Arjo Klamer, and Harry van Dalen. "The double-sidedness of money." Etnofoor 13.2 (2000): 89-103.

Love, Life, Money, Friendship

“Before the Treatise, the interest- rate was determined by tastes and objective circumstances, by the persuasibility of income-earners to transfer consumption from the present to the future, and the desire of business men to transfer the means of free enterprise from the future to the present, thus altering the productive possibilities and enlarging the prospective income of the society including themselves.”

G. L. S. Shackle (1903–1992) British economist

Source: Epistemics and Economics. (1972), p. 162

Men, Business, Future

“George Stephanopoulos: Is $100,000 middle income?

Mitt Romney: No, middle income is $200,000 to $250,000 and less.”

Mitt Romney (1947) American businessman and politician

Good Morning America http://abcnews.go.com/blogs/politics/2012/09/full-transcript-george-stephanopoulos-and-mitt-romney/, 2012

“But the capitalist, living on his income, gives nothing to his subjects. He lives by mere exploitation.”

George Fitzhugh (1806–1881) American activist

Source: Cannibals All!, or Slaves Without Masters (1857), pp. 44-45

“The proprietor should always direct his attention to obtain from his land a gradual increase of produce, or to augment its value continually. The farmer only desires the greatest profit during the continuance of his lease, without caring for the value of the land afterwards. "Whilst the proprietor can content himself with a trifling produce during a few years, in order to attain greater and more durable profit subsequently, the tenant must, on the contrary, endeavour to obtain the greatest produce, even though its amount should be diminished during the latter years of his lease; because the proprietor who wishes to farm on the best system, finds at the same time both pleasure and profit in laying out on his property as much capital as he can spare, whilst the tenant, on the contrary, withdraws as much of his pecuniary resources as possible, to employ it in other ways, or to place it at interest. The improvement of the land constitutes the pleasure of the proprietor, while the mere occupying farmer only thinks of augmenting his income. Thus the longer the lease may be, the more do the interests of the landlord and tenant become identified; the shorter the term, the more conflicting are those interests. With a lease of 24 years, a tenant ought, at least during the first two-thirds of its duration, to follow out the views of the proprietor. But the time will come when he will act on different principles, and endeavour to extract from the land a return in proportion to his outlay at the commencement.
To this must be added, that a tenant cannot have the means of laying out so much on the land as the proprietor, even if he wished to do so. The latter must pay the rent, whilst a proprietor anxious to improve can economize something from the net produce to expend on his property. The first may be compared to a merchant who trades on borrowed money; the second to one who speculates with his own funds. The former must first provide for his rent, the latter need only think of extending his speculations.”

Albrecht Thaer (1752–1828) German agronomist and an avid supporter of the humus theory for plant nutrition

Thaer, cited in: Joseph Rogers Farmers Magazine Volume The Seventh http://books.google.com/books?id=8OnG6xwQkesC&pg=PA263, 1843, p. 263: Speaking of lease and covenants

Money, Pleasure, Way, Thinking

“What is it—medieval serfs paid about twenty-five percent of their crops to the estate lord, to the manor lord, and Americans are paying fifty percent in taxes by the time you figure out income tax and then all the various state and local taxes, and, to think we're not, y'know, overtaxed is insane.”

Glenn Jacobs (1967) American professional wrestler and actor

18:57&#8211;19:19. "WWE Wrestler Kane Talks Libertarianism, and His Heroes" http://www.youtube.com/watch?v=cpqUIwu8nuc (2013)

Thinking, Time

“[A]s things now stand, the case that capitalism will make the world - not just the West - materially better off has simply not been convincingly demonstrated. Indeed, with almost 70 per cent of the world's people experiencing a decline in their real incomes in recent years, the opposite appears to be true. The wanton celebration of market capitalism while so many people throughout the world are lacking basic food and shelter seems, if not downright vulgar, at least a little insensitive.”

Linda McQuaig (1951) journalist and author

All You Can Eat: Greed, Lust and the New Capitalism (2001)

People, World, Food, Appearance

“Now, there is a genuine social justice which proceeds not from the principle of equality, but from the principle: Suum cuique — to each his own. It is true that to deprive the workman of his just wage is not only a sin, but a sin that cries to heaven for vengeance. When one hinders social advance by putting barriers in the way of the diligent and the talented, one not only commits a personal injustice, but damages the common good of the whole nation, which always requires a genuine elite of ability and the contribution of extraordinary brainpower in every walk of life. And it would be socially unjust if a few individuals or certain groups had so much material wealth that, in consequence of this concentration of property and income, other classes had to live not only in povery, but in misery. Whoever lives in real abundance has a Christian duty to assist those living in wrechedness. Before we proceed, however, let us affirm that the notion of misery is different from that of poverty. Péguy has already drawn the distinction between pauvreté and misère. To live in misery means to suffer genuine physical privation: to know cold and hunger, to have no proper dwelling, to be dressed in rags, to be unable to secure medical attention. The poor, by contrast, have the necessities of life, but scarcely any more. They can borrow books, no doubt, but cannot buy them; they can hear music on the radio, but cannot afford a ticket to a concert; they cannot indulge in little extras of food and drink, but should, by self-discipline, be able to save a little. The poor have, therefore, the normal material preconditions for happiness — unless plagued by acquisitiveness or even envy, which has become a political force in the same measure as people have lost their faith. The fact that there are happy poor (alongside unhappy rich people) is beside the point. Demagogues know how to stir up terrible and murderous unrest even among the happy poor, as has been demonstrated clearly by the history of the left from Marat to Marx to Lenin to Hitler.”

Erik von Kuehnelt-Leddihn (1909–1999) Austrian noble and political theorist

Pgs 53-54
The Timeless Christian (1969)

Life, Hunger, Happiness, People

“Figure 12-6 pulls together in a simplified way the main elements of income determination. Without saving and investment, there would be a circular flow of income between business and the public: above, business pays out wages, interest, rents, and profits to the public in return for the services of labor and property; and below, the public pays consumption dollars to business in return for goods and services.
Realistically, we must recognize that the public will wish to save some of its income, as shown at the spigot Z. Hence, businesses cannot expect their consumption sales to be as large as the total of wages, interest, rents, and profits.”

Paul A. Samuelson (1915–2009) American economist

8th ed., 1970, p. 218
1940s, Economics (1948-)

Way, Business

“There is now a strong movement in this country to bring the public school system under federal domination. The movement could not have been thought of before the government had the means for carrying out the idea; that is, before income taxation. The question is, have those who plug for nationalization of the schools come to the idea by independent thought, or have they been influenced by the bureaucrats who see in nationalization a wider opportunity for themselves? We must lean to the latter conclusion, because among the leaders of the movement are many bureaucrats. However, if the movement is successful, if the schools are brought under the watching eye of the federal government, it is a certainty that the curriculum will conform to the ideals of Big Government. The child’s mind will never be exposed to the idea that the individual is the one big thing in the world, that he has rights which come from a higher source than the bureaucracy.”

Frank Chodorov (1887–1966) American libertarian thinker

Source: The Income Tax: Root of All Evil (1954), pp. 34-35

World, School, Idea, Question

“I have before proved the nation to be in the possession of a vast income, highly sufficient for all demands, to possess a vigorous agriculture, flourishing manufactures, and an extended commerce, in a word, to be a great industrious country. Now I conceive that it is impossible to prove such points, without proportionably proving the kingdom to be a populous one.”

Arthur Young (1741–1820) English writer

Arthur Young (1770) A six months tour through the north of England http://books.google.com/books?id=mf9KAAAAYAAJ&pg=PA557. p. 557; Partly cited in: Paul Mantoux (2013), The Industrial Revolution in the Eighteenth Century, p. 345

Country

“It [knowledge] is clearly related to information, which we can now measure; and an economist especially is tempted to regard knowledge as a kind of capital structure, corresponding to information as an income flow. Knowledge, that is to say, is some kind of improbable structure or stock made up essentially of patterns — that is, improbable arrangements, and the more improbable the arrangements, we might suppose, the more knowledge there is.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1960s, Beyond Economics: Essays on Society, 1968, p. 142

Knowledge

“A series of things have come up since then that have made the problem incredibly grimmer…. The ozone hole… acid rain…. Three hundred million people have starved to death since THE POPULATION BOMB was written. The famines weren’t as large as agriculturists thought they would be… due to the spread of… Green Revolution technology into the poor countries…. What makes us nervous right now is that we’re faced with again having to do something desperate to increase our food production greatly…. In 1965 we knew exactly how to do it, the question was could we deploy it fast enough—Today we have nothing left to deploy—that’s very scary…. As a species we’re not able to live on our income; we’re living on our capital, our deep rich agricultural soils are being destroyed, water is being overpumped, and our biodiversity, our life support system—we’re already far beyond what we can support.”

Paul R. Ehrlich (1932) American scientist and environmentalist

KQED Radio City Arts and Lectures, San Francisco 1996

Life, Death, People, Food

“Militant leftism in politics appears to have its roots in broadly analogous sentiments. Every labour politician has observed that the most indignant members of his local Party are not usually the poorest, or the slum-dwellers, or those with most to gain from further economic change, but the younger, more self-conscious element, earning good incomes and living comfortably in neat new council houses: skilled engineering workers, electrical workers, draughtsmen, technicians, and the lower clerical grades. (Similarly the most militant local parties are not in the old industrial areas, but either in the newer high-wage engineering areas or in middle-class towns; Coventry or Margate are the characteristic strongholds.) Now it is people such as these who naturally resent the fact that despite their high economic status, often so much higher than their parents’, and their undoubted skill at work, they have no right to participate in the decisions of their firm, no influence over policy, and far fewer non-pecuniary privileges than the managerial grades; and outside their work they are conscious of a conspicuous educational handicap, of a style of life which is still looked down on by middle-class people often earning little if any more, of differences in accent, and generally of an inferior class position.”

Anthony Crosland book The Future of Socialism

The Future of Socialism by Anthony Crosland
The Future of Socialism (1956)

Life, People, Education, Nature

“I am not a great fan of shouting down people or being rude to people, I think we have a situation and a Congress that's way out of touch with where the American people are. People have a right to be angry when Congress gives tax breaks to billionaires and wants to cut nutrition programs for low income pregnant women. You have a right to be angry. Take that out in a constructive way. … I think people have a right to go into a restaurant and have dinner, that's where we got to place our energy. I do know that people are angry. They are angry about these terribly inhumane immigration policies. They're angry about the fact they can't afford prescription drugs. They are angry about tax breaks that go to billionaires. The way to deal with that is exactly what Alexandria did. Organize at the grass roots level. Win elections and get involved in the political process.”

Bernie Sanders (1941) American politician, senator for Vermont

About the Red Hen restaurant controversy. Video online https://www.mediaite.com/tv/bernie-sanders-defends-sarah-sanders-people-have-a-right-to-go-to-a-restaurant-for-dinner/ at Mediaite, 27 June 2018. 2010s, 2018

Women, People, Way, Thinking

“A society can neither advance nor improve without excess of disposable income. This excess can only be amassed through the productions of goods and services necessary or attractive to the mass. A financial system which allows this leads to inequality; one that does not leads to mass starvation. Page 10.”

David Mamet (1947) American playwright, essayist, screenwriter, and film director

The Secret Knowledge

Quotes about income page 3

Quotes about income
page 3