Judge Learned Hand: Not Bound to Best Pay

Judge Learned Hand Money Quote saying we all have the right to make certain we pay lowest level of taxes. Judge Learned Hand said:
 

 

“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury” — Judge Learned Hand

In this quote, Judge Learned Hand is expressing the view that individuals and businesses have the right to legally minimize their tax burden through savvy planning and structuring of financial affairs. While paying taxes funds important government services, Hand suggests taxpayers are not obligated to simply maximize their tax payments if there are legal means available to lessen the tax impact.

His perspective implies that optimizing one’s tax situation through allowable deductions, credits, exemptions or other strategies should not be seen as unethical or problematic behavior as long as it follows tax rules.

Overall, the quote conveys Hand’s position that citizens acting in their own self-interest to keep taxes as low as possible through compliant tax planning is a reasonable and acceptable approach according to both the letter and spirit of the tax code.

Birthday: January 27, 1872 – Death: August 18, 1961

Judge Learned Hand: Taxes Low as Possible

Judge Learned Hand Money Quote saying we need to understand that there is no reason for either rich or poor to pay more than minimum taxes required. Judge Learned Hand said:
 

 

“Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands” — Judge Learned Hand

In this quote, Judge Learned Hand is further expanding on his view that taxpayers have no obligation to pay more in taxes than what is legally required. He asserts that courts have repeatedly upheld the position that there is nothing improper about organizing one’s financial affairs to minimize taxes owed as much as possible.

Hand notes that this applies to all individuals “rich and poor alike,” as reducing taxes is simply a rational response to incentives created by the tax code. His perspective is that taxpayers “do right” by seeking the lowest tax burden according to the letter of the law, as no citizen has a “public duty” to pay more to the government than what is explicitly demanded based on their circumstances.

Overall, the quote conveys Hand’s judgment that minimizing taxes in compliance with regulations should not be seen as suspect or problematic behavior for any taxpayer.

Birthday: January 27, 1872 – Death: August 18, 1961

Seneca: Wisdom Offers Ready Money

Seneca Money Quote saying to gain wisdom is to gain wealth and makes financial gain meaningless. Seneca said:
 

 

“Wisdom offers wealth in ready money, and pays it over to those in whose eyes she has made wealth superfluous” — Seneca

In this quote, Seneca is saying that wisdom provides a type of wealth that is more valuable than money. When one gains wisdom, they no longer see material wealth as so important.

Wisdom offers a wealth of knowledge and understanding that makes being rich in money seem unnecessary. So wisdom essentially pays out a kind of wealth by changing one’s perspective and priorities in life.

Birthday: c. 4 BC – Death: AD 65

Janet Yellen: Congress Pass a Budget

Janet Yellen Money Quotation saying government legislators are expected to do their jobs budgeting & setting our national debt ceiling. Janet Yellen said:
 

 

“I believe it’s the responsibility of Congress to pass a budget to fund the government, to deal with the debt ceiling so that America pays its bills” — Janet Yellen

In this quote, Janet Yellen is expressing her view that it is Congress’s responsibility to take certain fiscal actions that are important for economic governance. She specifically calls out Congress’s duty to “pass a budget to fund the government,” referring to passing annual spending bills.

She also mentions Congress must “deal with the debt ceiling so that America pays its bills.” This relates to the need for Congress to periodically raise the debt limit so the U.S. can continue servicing its debt obligations.

Overall, Yellen is reinforcing the notion that according to the Constitution, it is the legislative branch’s job to make decisions around funding the government, debt, and ensuring financial obligations are met through these types of legislative acts. She is reminding Congress that taking timely action on these matters is their mandated responsibility.

Pat Bagley, Salt Lake Tribune

George Carlin on Middle Class Taxes

Funny Money Quotes: George Carlin explains how the middle class bears the burden of taxes for both the rich and the poor. said:
 

 

“The middle class pays all of the taxes, does all of the work. The poor are there just to scare the shit out of the middle class” — George Carlin

George Carlin joked about how much taxes the middle class pays because he believed they bore an unfair burden compared to the wealthy and poor. In the funny money quote, Carlin suggests that the middle class essentially pays for government services that benefit both the wealthy and poor.

His comedy was a way to draw attention to and criticize what he saw as an imbalance in the tax system. By joking about it, Carlin aimed to make an important social and political point in an entertaining manner that would resonate with many in his audience.

Birthday: May 12, 1937 – Death: June 22, 2008