Posts Tagged ‘tax’

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David Sikhosana: Teach Investing

Posted by admin on Tuesday, December 26, 2023

Meaning of David Sikhosana Money Quote: saying teach kids about finances and be sure they understand how investing, tax and credit works. David Sikhosana said:
 
Teach your children about credit, tax and investing. Be extremely truthful about how they all work Quote
 

“Teach your children about credit, tax and investing. Be extremely truthful about how they all work” — David Sikhosana

 

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In this quote, David Sikhosana is advocating for the importance of financial literacy education for children. He stresses the need to “teach your children about credit, tax and investing” so they understand fundamental financial concepts from a young age.

Sikhosana also emphasizes the importance of being “extremely truthful” when explaining how these systems work, rather than simplifying complex realities. The quote conveys his view that parents should have open, honest discussions with their children about credit and debt, taxation, and different investment opportunities and risks.

By imparting practical financial knowledge and wisdom early on, according to Sikhosana, it can help children make more informed financial choices as they grow into adulthood.

Steve Goodier: Dedication Tax

Posted by admin on Wednesday, December 6, 2023

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 you'll find the price was worth it Quote
 

“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

 

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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.

Mokokoma Mokhonoana: Salary Tax

Posted by admin on Sunday, September 3, 2023

Meaning of Mokokoma Mokhonoana Money Quote: saying A Paycheck is as good as a tax for employers to put employees dreams on hold. Mokokoma Mokhonoana said:

 
A salary is a tax employers pay, every four weeks, for putting an employee’s dream on hold Quote
 

“A salary is a tax employers pay, every four weeks, for putting an employee’s dream on hold” — Mokokoma Mokhonoana

 

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This quote suggests that when someone works for a salary rather than pursuing their own dreams or ambitions, the salary can be seen as compensation paid by employers to employees for delaying or postponing their personal goals and aspirations.

Mokokoma Mokhonoana seems to be pointing out that working a regular job solely for a paycheck every month means that an individual’s true desires and vision are being put “on hold” for the sake of financial stability or security provided by the salary.

In this view, the salary functions as a kind of tax paid by employers as the price of occupying an employee’s time and delaying their ability to fully self-direct their lives according to their own interests and plans.

John Wayne: Indirect Inflation Tax

Posted by admin on Sunday, December 11, 2022

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:
 
confiscate that wealth from you — either by direct taxes, or by the cruelly indirect tax of inflation Quote
 

“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

 

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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.

Henry Hazlitt: Must Pay Inflation Tax

Posted by admin on Tuesday, November 29, 2022

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 Quote
 

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

 

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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.

Ronald Reagan: Higher Inflation Bill

Posted by admin on Monday, November 28, 2022

Meaning of Ronald Reagan Money Quote: saying when any person or business spends more than they earn, it means bankruptcy. However, government does it and collects taxes to cover it. Inflation results.. Ronald Reagan said:
 
bankrupt. When government does it, it sends you the bill comes higher taxes and inflation is a tax Quote
 

“When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident” — Ronald Reagan

 

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In this quote, Ronald Reagan is drawing a comparison between how businesses and individuals operate financially versus how the government does. He states that when a business or person spends more than they earn, they go bankrupt. However, when the government does this by overspending for many years, it results in higher taxes and inflation rather than bankruptcy.

Reagan argues that inflation essentially functions as a hidden tax, since the rising prices that come with inflation reduce citizens’ purchasing power and standard of living over time. His point is that by continually overspending for decades without addressing the deficit, the government has to make up for it through tax increases on citizens or fueling inflation, both of which negatively impact the average taxpayer.

So in summary, the quote is criticizing long-term government overspending by asserting that unlike businesses or individuals, the government can avoid bankruptcy by instead passing on the costs to citizens through mechanisms like higher taxes and the inflation tax, which Reagan says is not accidental but rather a deliberate outcome of persistent fiscal irresponsibility.

Birthday: February 6, 1911 – Death: June 5, 2004

Warren Buffett: Paying Income Tax

Posted by admin on Saturday, November 12, 2022

Meaning of Warren Buffett Money Quote: saying those paying taxes are not taxed on capital gains, dividends. Warren Buffett said:
 
paying the income tax, but the payroll tax is the receipts of the federal governmen on capital gains on dividends Quote
 

“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

 

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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.

Robert A. Heinlein: Tax Receipt

Posted by admin on Sunday, November 6, 2022

Meaning of Robert A. Heinlein Money Quote: saying Following requirements, rules, and instructions as a member of society. Robert A. Heinlein said:
 
Where's tax receipt? Fill out form. Let's see license. Queue up and pay fine Quote
 

“Do this. Don’t do that. Stay back in line. Where’s tax receipt? Fill out form. Let’s see license. Submit six copies. Exit only. No left turn. No right turn. Queue up and pay fine. Take back and get stamped. Drop dead— but first get permit” — Robert A. Heinlein

 

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In this quote, Robert A. Heinlein seems to be satirizing and exaggerating bureaucratic red tape and excessive rules and regulations. The best interpretation is that he is using hyperbolic language and staccato phrasing to mock the overbearing nature of governmental paperwork, restrictions and oversight in everyday life.

By listing an absurd number of demands, prohibitions and hoops to jump through, he aims to humorously highlight and criticize what he views as an overly regulated and controlled society. Overall, Heinlein appears to be employing sarcasm and ridicule to comment on the frustration of dealing with complex bureaucracy.

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