Quotes About Income

A lot of companies incorporate in Delaware," Sloane said. "The business laws are more favorable, and there is no state corporate income tax so long as the company does not transact business within Delaware.

I had no idea that the loss of marijuana income had led to the Mexican, South American, and Chinese drug cartels plowing under their marijuana fields to plant poppies and to flood the United States market with cheap and affordable heroin. This

Labor unions would have us believe that they transfer income from rich capitalists to poor workers. In fact, they mostly transfer income from the large number of non-union workers to a small number of relatively well-off union workers.

Before Massachusetts senator Elizabeth Warren went into politics, she and her daughter, Amelia Warren Tyagi, coauthored a book in which they asked why most one-earner couples could live comfortably within their budgets in the 1950s, yet the two-earner couples that had become the norm by the 1990s often struggled to make ends meet.9 Their answer was that the second paycheck went largely to fuel a bidding war for houses in better school districts.

the effects of a decline in any one person's after-tax income are dramatically different from those of an across-the-board decline. If you alone experience an income decline, you're less able to buy what you want. But when everyone's income declines simultaneously, relative purchasing power is unaffected. And it's relative purchasing power that determines who gets things that are in short supply.

CEO compensation at large companies grew sixfold between 1980 and 2003, roughly the same as the market-cap growth of these businesses.

Hong Kong's maximum tax (the "standard rate") has normally been 15 percent, effectively capping the marginal rate at high income levels (in exchange for no personal exemptions).

People try to live within their income so they can afford to pay taxes to a government that can't live within its income

Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people.

Chief among these headwinds is the rise of inequality that since 1970 has steadily directed an ever larger share of the fruits of the American growth machine to the top of the income distribution.

The new element in part III is the headwinds—inequality, education, demography, and debt repayment—that are buffeting the U.S. economy and pushing down the growth rate of the real disposable income of the bottom 99 percent of the income distribution to little above zero.

If the stock market continues to advance, we know that inequality will increase, for capital gains on equities accrue disproportionately to the top income brackets.

The combined effects of growing inequality, a faltering education system, demographic headwinds, and the strong likelihood of a fiscal correction imply that the real median disposable income will grow much more slowly in the future than in the past.

The inexorable rise of inequality can be countered at the top by higher taxes on the highest earners who have captured so much more of the income pie than was true forty years ago. At the bottom, an increase in the minimum wage and an expansion of the earned-income tax credit can divert more of the economic pie to those in the bottom half.

When I started my last business, I didn't receive a paycheck for 13 months. The average person can't handle that pressure.

As he puts it, "Waitresses and card dealers are paid minimum wage in anticipation of their income being supplemented by tips, so if one doesn't tip them, one is, in effect, robbing them of their livelihood. Public officials, on the other hand, are expected to live within their salaries, so any effort on their part to obtain additional earnings for the simple performance of their duties is extortion at its worst and should be a jailable offense!

My rich dad's advice made much more sense. Soon the cash flow from my properties was so strong that my company bought me my first Porsche. My fellow Xerox salespeople thought I was spending my commissions. I wasn't. I was investing my commissions in assets.

the rent more than covers my monthly expenses so I have cash flow from my investment.

Stocks •?Bonds •?Income-generating real estate •?Notes (IOUs) •?Royalties from intellectual property such as music, scripts, and patents •?Anything else that has value, produces income or appreciates, and has a ready market

If you take on debt personally, make sure it's small. If you take on large debt, make sure someone else is paying for it.

Buying or building assets that deliver cash flow is putting your money to work for you.

On larger properties, the asset really is the property and its income stream, not the individual borrower's income stream.

The poor and the middle class work for money. The rich have money work for them. On

Want to grow rich? Concentrate your efforts on buying income-producing assets—when you truly understand what an asset is. Keep liabilities and expenses low. You'll deepen your asset column.