Quotes About Taxes

One dad thought that the rich should pay more in taxes to take care of those less fortunate. The other said, "Taxes punish those who produce and reward those who don't produce.

Even though people receive a tax deduction for interest on mortgage payments, they pay for all their other expenses with after-tax dollars, even after they pay off their mortgage.

The money most people save is after-tax money." For a person to save $10, the real dollar amount earned was $20 because it is ordinary income or 50-percent money. On top of that, the interest that you earn on your savings is also subject to higher taxes.

Riqueza libre de impuestos.

The rich don't work for money." As long as a person works for money, they will pay taxes.

Taxes are highest on earned income. The least-taxed income is passive income.

war between the haves and have-nots has raged for hundreds of years. The battle is waged whenever and wherever laws are made, and it will go on forever. The problem is that the people who lose are the uninformed: the ones who get up every day and diligently go to work and pay taxes. If they only understood the way the rich play the game, they could play it too.

Why the Middle Class Struggle The middle class finds itself in a constant state of financial struggle. Their primary income is through their salary. As their wages increase, so do their taxes. Their expenses tend to increase in proportion to their salary increase: hence, the phrase "the Rat Race." They treat their home as their primary asset, instead of investing in income-producing assets.

The number-one expense for most people is taxes. Many people think it's income tax, but for most Americans, their highest tax is Social Security. As an employee, it appears as if the Social Security tax combined with the Medicare tax rate is roughly 7.5 percent, but it's really 15 percent since the employer must match the Social Security amount. In essence, it is money the employer can't pay you.

As an employee, it appears as if the Social Security tax combined with the Medicare tax rate is roughly 7.5 percent, but it's really 15 percent since the employer must match the Social Security amount.

My rich dad was different. He made more and more money but paid less in taxes. He also had bankers and accountants, but he wasn't getting the same advice my highly educated dad was getting.

Smart investors understand taxes before investing.

Heavens no!" said rich dad. "The government always takes its share first.

Section 1031 of the Internal Revenue Code which allows a seller to delay paying taxes on a piece of real estate that is sold for a capital gain through an exchange for a more expensive piece of real estate. Real estate is one investment vehicle that has a great tax advantage. As long as you keep trading up in value, you will not be taxed on the gains until you liquidate.

tax-lien certificates

You work for the bank. After taxes, your next largest expense is usually your mortgage and credit card debt.

If you are willing to invest, the tax laws will work in your favor. If you want to just spend money and buy liabilities, the tax law won't give you any breaks—and it's likely you will pay the most tax possible.

The problem was that the government's appetite for money was so great that taxes soon needed to be levied on the middle class, and from there it kept trickling down.

Average Americans today work four to five months for the government just to cover their taxes.

Taxes," said rich dad. "You're taxed when you earn. You're taxed when you spend. You're taxed when you save. You're taxed when you die." "Why do people let the government do that to them?" "The rich don't," said rich dad with a smile. "The poor and the middle class do.

By working harder, you simply increase the amount of taxes taken by the government.

The reason the rich pay less in taxes goes back to rich dad's lesson number one: "The rich don't work for money." As long as a person works for money, they will pay taxes.

Taxes punish those who produce and reward those who don't produce.

1031: Jargon for Section 1031 of the Internal Revenue Code, which allows a seller to delay paying taxes on a piece of real estate that is sold for a capital gain through an exchange for a more expensive piece of real estate.