Posts Tagged ‘George Shultz’
George Shultz: Open Econ Systems
on Sunday, February 7, 2021George P. Shultz Money Quote saying political systems that are open often have transparent, open economic systems and they work better. George P. Shultz said:
“Open political and economic systems have been gaining ground and there’s a good reason for it. They work better” — George P. Shultz
In this quote, George P. Shultz seems to be arguing that open, democratic political systems and market-based free economies have been expanding globally because they are more effective than closed, authoritarian alternatives.
By stating that open systems “have been gaining ground” and “there’s a good reason for it” because “They work better”, Shultz implies these models of governance and trade have seen increasing adoption due to demonstrating greater success and delivering better outcomes for citizens compared to more restrictive political and economic frameworks.
The quote conveys Shultz’s perspective that transparency, individual rights and free enterprise foster conditions that allow societies overall to thrive, which is why these approaches have proliferated in recent decades.
Birthday: December 13, 1920 – Death: February 6, 2021
George P. Shultz: Raising Tax Rates
on Sunday, February 7, 2021George P. Shultz Money Quote saying while taking the conservative approach to increasing revenue by expanding the economy rather than by taxing anyone. George P. Shultz said:
“You don’t get gushers of revenue by raising tax rates. You get it through expansion” — George P. Shultz
In this quote, George P. Shultz seems to be arguing against the idea that raising tax rates is an effective way for governments to generate more tax revenue. By stating that higher tax rates do not produce “gushers of revenue” but rather revenue comes through “expansion”, Shultz implies economic growth through business and job creation is a better strategy for increasing tax intake than increasing tax percentages.
The quote conveys Shultz’s perspective that a strong, growing economy with many people employed and businesses profiting will yield greater tax revenues than higher rates which may discourage business activity and investment. Overall, he appears to be advocating for pro-growth policies over tax hikes as a means of boosting government income.
Birthday: December 13, 1920 – Death: February 6, 2021