Robert Reich: Poverty-Level Wages

Robert Reich Money Quote saying those working full time jobs at minimum wage are costing the government in subsidies for those same families, so employers should contribute or pay more to workers. Robert Reich said:
 

 

“Poverty-level wages cost U.S. taxpayers $152.8 billion a year in public support for working families. So it’s only logical to raise taxes on big companies that give their workers poverty-level wages, to pay for this subsidy” — Robert Reich

In this quote, Robert Reich is making the argument that large companies which pay their workers very low, poverty-level wages are effectively being subsidized by taxpayers.

He notes that it costs the US public an estimated $152.8 billion annually to provide support like food stamps, Medicaid and tax credits to working families who still live in poverty despite being employed.

Reich proposes that rather than taxpayers footing this bill, companies should be taxed more if they are paying wages so low that their workers still require public assistance.

By raising taxes on these large firms, it could help offset the costs that taxpayers incur to support these working poor.

Overall, Reich is advocating for higher taxes on big businesses as a way to recoup some of the public subsidies that go to prop up the low wages paid by profitable corporations.

Poverty-level wages cost U.S. taxpayers $152.8 billion a year in public support for working families. So it's only logical to raise taxes on big companies that give their workers poverty-level wages, to pay for this subsidy.

— Robert Reich (@RBReich) February 28, 2021

Robert Reich: Stock Price Taxpayer

Robert Reich Money Quote saying Drug development funded by taxpayers is contributing to the Gilead bottom line profit. Robert Reich said:
 

 

“As Gilead’s stock price rises on reports of remdesivir, remember that the drug was developed with a $37.5 million grant from the federal government paid for by the taxpayers. Once again, Big Pharma is set to profit on the taxpayer’s dime” — Robert Reich

Robert Reich is criticizing the pharmaceutical company Gilead for profiting greatly from a drug called remdesivir that was developed using taxpayer funds. He notes that while Gilead’s stock price rises due to reports about remdesivir, taxpayers provided $37.5 million in grants that helped fund the initial development of the drug.

Reich is suggesting it is unfair for Gilead to reap huge profits from a drug that taxpayers partially supported, implying the company is profiting “on the taxpayer’s dime.” His statement aims to point out the disparity between taxpayers footing part of the bill for drug development through government grants, versus pharmaceutical corporations receiving the lion’s share of financial returns from drugs those grants helped create.

Nick Hanauer: Pay a Living Wage

Nick Hanauer Money Quotation saying paying employees better means they won’t need public assistance programs to relieve poverty. Nick Hanauer said:
 

 

“When businesses pay workers a living wage, taxpayers are relieved of the burden of funding the poverty programs like food stamps and medical assistance and rent assistance that those workers need” — Nick Hanauer

In this quote, Nick Hanauer is arguing that when businesses pay their workers a living wage, it reduces the financial burden on taxpayers who fund various government assistance programs.

Hanauer is saying that if low-wage workers received higher wages from their employers, they would be less reliant on poverty programs like food stamps, Medicaid, rent subsidies and other forms of public assistance that taxpayers fund through their taxes.

Therefore, when the business community pays workers enough to meet basic living expenses, it effectively shifts some of the social costs of poverty from the taxpayer onto businesses themselves through higher wages.

This interpretation suggests Hanauer believes living wages paid by employers can help decrease government spending on anti-poverty programs over the long run.

Elizabeth Warren: Big Company Lobbyists & Lawyers

Elizabeth Warren Money Quotation saying voters elected congress to protect the interest of taxpayers and not the interests of Wall Street banks. Elizabeth Warren said:
 

 

“The American people sent us here. Republicans, democrats, and independents. They sent us here to stand up for them, to stand up for taxpayers, to protect the economy. Nobody sent us here to stand up for Citigroup” — Elizabeth Warren

In this quote, Elizabeth Warren is arguing that elected officials in Congress are meant to represent the interests of ordinary American citizens, not large corporations like Citigroup. She asserts that voters elected both Republicans and Democrats to stand up for taxpayers and protect the overall economy. However, Warren suggests that no one voted for their representatives simply to advocate for the priorities and wishes of big banks.

The quote conveys Warren’s view that politicians should champion middle-class interests rather than cater primarily to large companies and their lobbyists. She believes elected officials were sent to Washington to serve citizens, not powerful corporate entities like Citigroup.

Dave Barry: IRS Agents Regular Destroyers

Dave Barry Money Quotation saying IRS agents seem to have free access to our bank accounts with threat of interest and penalties – frightening prospects on par with identity theft. Dave Barry said:
 

 

“And to you taxpayers out there, let me say this: Make sure you file your tax return on time! And remember that, even though income taxes can be a ‘pain in the neck,’ the folks at the IRS are regular people just like you, except that they can destroy your life” — Dave Barry

This quote from humorist Dave Barry is making light of the seriousness of taxes and the power of the IRS in a tongue-in-cheek way. Specifically:

• He tells taxpayers to file their returns on time to avoid any penalties or issues with the IRS.
• While taxes can feel burdensome (“a pain in the neck”), he reminds people that IRS agents are just regular people doing their jobs.
• However, he then jokingly notes that despite being regular folks, IRS agents have the authority (“can destroy your life”) if a taxpayer fails to properly comply with tax laws and pay what they owe.

Overall, the quote is using humor and exaggeration to acknowledge taxpayers’ frustrations with taxes but also to remind them not to take the IRS lightly, as noncompliance can have serious consequences despite the people working there just being normal individuals. It’s meant to get a laugh while still communicating an important message about tax responsibilities.

G Guttman: IRS v Taxpayers

G. Guttman Money Quotation saying We’re pretty gullible with our taxes when the IRS makes claims and we treat them as though there is only one answer and no options. G. Guttman said:
 

 

“If the IRS took 100 taxpayers at random and sent each an incorrect notice that they owed an extra $92.35 in taxes and interest, more than two-thirds would probably just send in a check without investigating further” — G. Guttman

G. Guttman appears to be commenting on human psychology and the power of authority. The quote suggests that if the IRS (a government body associated with taxes) sent out random notices to taxpayers claiming they owed a small additional amount, over two-thirds of recipients would likely pay without questioning the notice.

This implies that people have a tendency to assume authorities like the IRS are correct and to comply without verification, even for seemingly minor amounts. Guttman seems to be observing how the perception of legitimacy and lack of motivation to challenge authority figures can cause individuals to accept claims and demands uncritically.

In essence, the quote is pointing to the psychological influence of government institutions and how easily people can be induced into certain behaviors through implied legitimacy alone.