Hendrith Vanlon Smith Jr: Inflation %

Meaning of Hendrith Vanlon Smith Jr. Money Quote: saying One business expense many owners fail to budget is inflation. Hendrith Vanlon Smith Jr. said:
 

 

“You have to include inflation in your annual revenue and expense forecasts. You have to treat inflation as an annual fee your business pays into the economy. If inflation is 2% for example, that means the economy is charging your business a 2% annual fee and so you gotta make sure your income and total assets grow at minimum 2% annually just to keep up” — Hendrith Vanlon Smith Jr

Hendrith Vanlon Smith Jr is advising businesses to account for inflation when planning their annual finances and growth. The quote suggests that if inflation is at a rate like 2% in a given year, that effectively means costs across the economy are increasing by 2% on average.

Therefore, Smith argues businesses need to factor this “annual fee” of inflation into their revenue and expense forecasts to ensure income and total assets increase by at least 2% just to maintain the same purchasing power and profitability. If a business does not grow more than the inflation rate, it is effectively losing value and falling behind in real terms.

The overall message is that smart financial planning requires incorporating expected inflation into projections, as rising prices can erode profits if not properly compensated for through revenue growth.

ProtonMail: Social Media Revenue

Since the apple App Store allowed users to decline data tracking by apps – nearly 70% choose not to allow and cost social media billions. @ProtonMail said:
 

 

“Social media giants lost nearly $10 billion in revenue since April because users chose not to be tracked across apps. Almost makes you think they mine personal data for profit or something” — @ProtonMail

In this quote, the privacy-focused email provider ProtonMail seems to be subtly criticizing large social media/tech companies that rely on collecting user data for targeted advertising revenue. Specifically:

• ProtonMail notes that from April to present, giants like Facebook/Google lost around $10 billion collectively due to Apple’s anti-tracking changes in iOS.
• This implies users value privacy enough to opt-out of cross-app monitoring when given a choice, costing these firms major ad income.
• ProtonMail then sarcastically suggests that maybe, just maybe, these companies “mine personal data for profit” – a clear jab that data harvesting is their primary business model.

The best interpretation is ProtonMail is taking a dig at tech platforms by pointing out the massive financial impact of even minor constraints on user data collection. The quote aims to underscore these firms’ overwhelming reliance on mining personal profiles to fuel ad sales and question whether user privacy or profits ultimately drive their behavior, at least from ProtonMail’s skeptical perspective on their data-based operations and incentives.

Social media giants lost nearly $10 billion in revenue since April because users chose not to be tracked across apps. Almost makes you think they mine personal data for profit or something.

— ProtonMail (@ProtonMail) November 1, 2021

Jay Abraham: Revenue Profit

Jay Abraham Money Quote saying there are ways to increase profits that are easier than increasing income. Jay Abraham said:
 

 

“It Is So Much Easier To Increase ProfitThan It Is Revenue” — Jay Abraham

In this quote, Jay Abraham seems to be emphasizing that improving profitability is generally less challenging than boosting top-line revenue or sales. The best interpretation is:

• Abraham states that it is “so much easier” for businesses to increase their profits compared to substantially growing overall revenue.
• He appears to believe optimizing costs, margins and efficiency has greater potential to directly impact bottom-line profits than solely focusing on revenue expansion through new customers or higher prices.
• Abraham implies profit growth can be achieved through relatively small adjustments to expenses and operations, while revenue gains may require more extensive changes or luck to substantially impact top-line numbers.

Overall, the quote conveys Abraham’s perspective that enhancing profit performance is often more straightforward and within a company’s control than solely aiming for major revenue growth. According to Abraham, shrewd cost optimization may offer an easier path to fatter profits than unpredictable revenue increases alone.

pic.twitter.com/NboiUIy6fi

— Jay Abraham (@RealJayAbraham) October 30, 2021

George P. Shultz: Raising Tax Rates

George 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

Robert Reich: Trump Tax Shafted

“The [Trump] tax cut cost approximately $2 trillion dollars in lower taxes paid by corporations and wealthy Americans. Revenue did not increase to cover it. Instead, that $2 trillion has been added to the national debt, which continues to balloon. It’s now over $23 trillion dollars” — Robert Reich

In this quote, Robert Reich is criticizing the impact of the Trump tax cuts passed in 2017.

He notes that the tax cuts resulted in about $2 trillion in lost tax revenue since corporations and wealthy Americans paid that much less in taxes. However, contrary to promises, overall tax revenue did not increase to make up for this loss. Instead, the $2 trillion was added to the national debt.

Reich points out the debt has now ballooned over $23 trillion as a result. He appears to be arguing that the tax cuts failed to pay for themselves as projected and significantly increased the government’s debt burden rather than boosting the economy as promised.

Reich views this outcome as evidence that the tax cuts did not achieve their stated goals and have negatively impacted the national debt.

“They said the [Trump] tax cut would raise wages and most workers would get an immediate $4,000 pay increase. More baloney. Most workers got practically nothing. Instead, corporate profits have gone to the top: to CEOs, who last year got an average pay increase of over $1 Million dollars” — Robert Reich

In this quote, Robert Reich is criticizing how the Trump tax cuts did not deliver on promises to significantly raise wages for most workers. He notes that while the tax cuts were touted as leading to an immediate $4,000 pay increase for workers, in reality most workers saw practically no benefit.

Instead, Reich argues that corporate tax savings from the cuts went towards higher profits and compensation for CEOs, whose pay increased on average by over $1 million.

By pointing out this disparity between what was pledged for ordinary workers versus what top executives received, Reich aims to show the tax cuts did little for average Americans while greatly enriching those already at the top.

Overall, he views the quote as evidence that the tax plan failed to “trickle down” the way was promised by its proponents.

Franklin Pierce: Taxpayer Revenue

Franklin Pierce Money Quote saying taxpayers are charged more than the government needs to fund existing projects, so revenue increases. Franklin Pierce said:
 

 

“The revenue of the country, levied almost insensibly to the taxpayer, goes on from year to year, increasing beyond either the interests or the prospective wants of the Government” — Franklin Pierce

The quote you provided, from Franklin Pierce, suggests that taxpayers are charged more than the government needs to fund existing projects, resulting in an increase in revenue beyond what is necessary for the government’s needs.

This implies that the government may be over-taxing its citizens, which could be seen as a significant issue in the context of taxation and government spending.

Birthday: November 23, 1804 – Death: October 8, 1869

Mokokoma Mokhonoana: Good vs. Business

Mokokoma Mokhonoana Money Quote saying Business people are often torn between being reasonable and thoughtful human beings and the desire to excel in business by extracting the maximum profit from their customers. Mokokoma Mokhonoana said:
 

 

“Millions of business people are each constantly forced to choose between their desire to not be a bad person and their desire to be a good business person, that is to say, to make as much money as they possibly can by maximizing their revenue while minimizing the cost of producing whatever it is that they sell” — Mokokoma Mokhonoana

This quote suggests that there is often a conflict between ethical business practices and the pursuit of maximum profits. Mokokoma Mokhonoana seems to be pointing out that business owners and executives are regularly faced with a choice between their personal moral values of being “good people” and their professional goals of being “good business people” by earning as much revenue as possible while keeping costs and expenses low.

According to this perspective, maximizing profits through minimizing production costs could potentially require compromising one’s principles or exploiting others, creating an internal dilemma for those trying to be both morally upright and financially successful in business.

Marcus Tullius Cicero: Rich Wealth Valuation

Cicero Money Quote saying wealth is more a state of mind than of what possessions can be counted. Cicero said:
 

“Wealth is not defined by the valuation of the census, but by habit and mode of life: not to be greedy is wealth; not to be extravagant is revenue. Above all things, to be content with what we possess is the greatest of all riches” — Cicero

Cicero is saying that true wealth and prosperity are not measured by the amount of money or possessions one has according to official records, but rather by the habits and lifestyle a person adopts. The best interpretation is that Cicero believes wealth is better defined as not desiring more than what you need, and finding satisfaction and contentment with what you already possess regardless of quantity or value.

Living within one’s means, avoiding wasteful excess and being ungreedy are, in Cicero’s view, the hallmarks of true riches rather than any amount of material resources. His message suggests that inner peace and happiness are best achieved by learning to be sufficiently content with our current situation in life rather than constantly pursuing more wealth or status.

Birthday: January 3, 106 BC – Death: December 7, 43 BC