Steve Goodier: Dedication Tax

Meaning of Steve Goodier Money Quote: saying Pay a dedication tax to succeed and you’ll find the price was worth it. Steve Goodier said:

 

 

“We pay a tax to succeed at anything worthwhile. That tax is called dedication, and here’s the most wonderful part. Once you pay it, once you truly dedicate yourself to something important, you’ll find the price was worth it” — Steve Goodier

In this quote, Steve Goodier is referring to the effort and commitment required to achieve success in meaningful pursuits. He says that to “succeed at anything worthwhile”, one must be willing to “pay a tax” of full dedication and commitment to that goal or endeavor. This “tax” of dedication requires focused time, energy and persistence to see something through.

However, Goodier notes that once a person pays this tax by truly dedicating themselves, they will find that all the effort was worthwhile because of the satisfaction and rewards of accomplishing their important goal or task. So in essence, he is saying meaningful success does not come easily but requires paying the price of unwavering dedication, which ultimately proves to be a cost that is well worth it.

Diane Feinstein: Tax Credits, Keep It

Meaning of Dianne Feinstein Money Quote: saying Those who claim tax credits keep them and don’t do any spending with them. Dianne Feinstein said:

 

 

“It is my belief that tax credits only go to people who are making money, and they generally keep it” — Dianne Feinstein

This quote from Dianne Feinstein suggests that tax credits or subsidies primarily benefit those already earning an income, and that these taxpayers tend to retain the value of the credit for themselves rather than passing it on to others in the form of lower prices or higher wages. Some key points in interpreting her perspective:

• Feinstein implies tax relief flows disproportionately to profitable companies and high-income individuals rather than being fully passed through the broader economy.
• She portrays credits as a way for recipients to keep extra post-tax profits rather than using the full value to hire more workers or lower consumer costs on a dollar-for-dollar basis.
• However, economists disagree on how much of tax burdens are actually borne by beneficiaries versus being passed on, and reasonable experts debate the most equitable and growth-maximizing approaches.
• A balanced interpretation acknowledges both Feinstein’s viewpoint and the complexities of incidence analysis, where the impacts of tax policies depend on many economic factors and can be modeled differently by partisans.

Overall, the quote conveys Feinstein’s skepticism that credits fully benefit the intended groups, but the best analysis considers this perspective alongside other reasonable positions in ongoing debates, as experts may interpret data in good faith yet reach different conclusions on optimal taxation and its dynamic effects on various stakeholders over time.

Thomas Sowell: Welfare State Con

Meaning of Thomas Sowell Money Quote: saying the con is when money is taken in taxes and returned to the public with great fanfare. Thomas Sowell said:

 

 

“The welfare state is the oldest con game in the world. First you take people’s money away quietly and then you give some of it back to them flamboyantly” — Thomas Sowell

Thomas Sowell is suggesting that governments use taxpayers’ money in an misleading way through welfare programs. He argues that taxes are collected quietly and efficiently from citizens, but only some of that money is then redistributed to people through visible welfare programs.

So it creates the impression that the government is generously helping people, even though the money originally came from taxpayers.

Overall, Sowell seems to be criticizing the welfare system as a way for governments to subtly take citizens’ resources and then promote themselves by visibly spending only part of it on social programs.

Birthday: June 30, 1930

Randy Thurman: Penny After Taxes

Meaning of Randy Thurman Money Quote: saying one cent used to be worth twice as much before it is taxed. Randy Thurman said:

 

 

“A penny saved is worth two pennies earned . . . after taxes” — Randy Thurman

This quote from Randy Thurman suggests that saving money is more valuable than earning money after taxes are taken out. It implies that a penny that is saved retains its full value of one penny, while earning two pennies through work or other means results in less than two pennies actually being kept once taxes are paid.

The quote highlights how putting money away in savings can be more worthwhile financially than earning additional money that will be partially lost to taxation. Saving a single penny of income keeps the full penny’s worth, while earning more may not translate to keeping more after accounting for taxes owed on those earnings.

John Wayne: Indirect Inflation Tax

Meaning of John Wayne Money Quote: saying Government doesn’t have inherited money, it must collect that cash from the citizenry, either by taxes or inflation. John Wayne said:
 

 

“Government has no wealth, and when a politician promises to give you something for nothing, he must first confiscate that wealth from you — either by direct taxes, or by the cruelly indirect tax of inflation” — John Wayne

John Wayne is warning about the false promises of politicians who claim they can provide benefits without cost to citizens. The quote suggests that whenever a politician vows to give something for free, they are actually taking wealth from the people in order to pay for it, either through direct taxation or by devaluing the currency through inflation.

Wayne implies that government has no resources of its own, so any programs or handouts must be funded by confiscating wealth from taxpayers. Overall, the message is a skeptical view of politicians making things seem like “something for nothing,” when in reality citizens end up footing the bill through taxes or inflation that diminishes their purchasing power.

Birthday: May 26, 1907 – Death: June 11, 1979

Henry Hazlitt: Must Pay Inflation Tax

Meaning of Henry Hazlitt Money Quote: saying inflation is a kind of tax that must be payed by all. Henry Hazlitt said:
 

 

“Inflation is a form of tax, a tax that we all collectively must pay” — Henry Hazlitt

Henry Hazlitt is characterizing inflation as a type of tax. The quote suggests that when inflation rises, it effectively acts as a tax on everyone in the economy because it reduces the purchasing power of money over time.

While inflation is not a direct tax collected by the government, Hazlitt argues we all end up collectively paying the cost of inflation through higher prices for goods and services.

The message is that inflation should be viewed as a tax-like burden that makes people poorer as their dollars are worth less, similar to how a traditional tax reduces the percentage of income people can keep.

Overall, Hazlitt is describing inflation as an indirect but still significant economic levy imposed on all members of society.

Birthday: December 4, 1795 – Death: February 5, 1881

Warren Buffett: Paying Income Tax

Meaning of Warren Buffett Money Quote: saying those paying taxes are not taxed on capital gains, dividends. Warren Buffett said:
 

 

“We’re paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don’t take that from me on capital gains. They don’t take that from me on dividends” — Warren Buffett

Warren Buffett is referring to how capital gains and dividends are taxed at lower rates than regular income for most taxpayers. When someone sells an investment like stocks or real estate for more than they paid, the profit or “capital gain” is taxed. However, the capital gains tax rate is typically lower than the rate for ordinary income.

Dividends from stock investments are also usually taxed at a lower rate than regular wages or self-employment income. By pointing this out, Buffett is suggesting that the tax system favors investment income over earned income through work.

Leo Anthony Gallagher: Deductible

Meaning of Leo Anthony Gallagher Jr. Money Quote: saying that U.S. Declaration of Independence tells us that we are all created equal, but fit in different tax brackets. Leo Anthony Gallagher Jr. said:
 

  

“We hold these truths to be self-evident and federally taxable: that all men are created equal – just in different brackets; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness… these are NON-DEDUCTIBLE!” — Leo Anthony Gallagher Jr.

Birthday: July 24, 1946 – Death: November 11, 2022