Income Quotes - page 7
The assurance of a certain minimum income for everyone, or a sort of floor below which nobody need fall even when he is unable to provide for himself, appears not only to be a wholly legitimate protection against a risk common to all, but a necessary part of the Great Society in which the individual no longer has specific claims on the members of the particular small group into which he was born.
Friedrich Hayek
Keynes didn't make an all-out assault on Economic Man, but he often resorted to plausible psychological theorizing rather than careful analysis of what a rational decision-maker would do. Business decisions were driven by "animal spirits,” consumer decisions by a psychological tendency to spend some but not all of any increase in income, wage settlements by a sense of fairness, and so on.
But was it really a good idea to diminish the role of Economic Man that much? No, said Friedman, who argued in his 1953 essay "The Methodology of Positive Economics” that economic theories should be judged not by their psychological realism but by their ability to predict behavior. And Friedman's two greatest triumphs as an economic theorist came from applying the hypothesis of rational behavior to questions other economists had thought beyond its reach.
Paul Krugman
Generally speaking, under capitalism, the ownership of capital is separate from the application of capital to production; money capital is separate from industrial or productive capital; the rentier, living entirely on income obtained from money capital, is separated from the entrepreneur and from all those directly concerned in the management of capital.
Vladimir Lenin
On the 60th anniversary of the Korean War, I remain grateful to America for having participated in the war. At that time, the Republic of Korea was one of the most impoverished countries, with an annual per capita income of less than $40. In 2009, my country became a member of the Organization for Economic Cooperation and Development's Development Assistance Committee, the first aid recipient to become a donor and in only one generation. The Republic of Korea is engaged in peacekeeping missions in 14 countries to promote global peace. It will host the G-20 summit in November, and in 2012 the second nuclear security summit.
Lee Myung-bak
Americans are already deep in a culture war over morality-marijuana, abortion, same-sex marriage. We are already racially polarized over affirmative action and income inequality. And when we have ceased to be an English-speaking, Christian country and become instead an Asian-Hispanic-African-American-white nation, with large Jewish, Christian, Muslim, Hindu, Buddhist, agnostic and atheist minorities, and no defined borders, or common faith and culture, what holds us together?
Pat Buchanan
Some of these quantities refer directly to a point of time. That is true of "capital value" as also of such quantities as demand and supply prices. Other terms – as e. g. "income", "revenue", "return", "expenses", "savings", "investments" – imply, however, a time period for which they are reckoned. But in order to be unambiguous they must also refer to a point of time at which they are calculated.
Gunnar Myrdal
The non-institutional elements of Bretton Woods, such as the gold-backed dollar standard, have gone by the wayside, but the World Bank and the IMF soldier on... Western governments tax their citizens to fund the World Bank, lend this money to corrupt Third World dictators who abscond with the funds, and then demand repayment which is extracted through taxation from poor Third World citizens, rather than from the government officials responsible for the embezzlement. It is in essence a global transfer of wealth from the poor to the rich. Taxpayers around the world are forced to subsidize the lavish lifestyles of Third World dictators and highly-paid World Bank bureaucrats who don't even pay income tax.
Ron Paul
You can't have a government like this without an income tax, but we don't want a government like this. This is not the type of government that was designed by the founders of the country. This is not what was written in the Constitution. We've only had an income tax since 1913. But if you want a welfare state, and if you want to police the world and pay for the defense of Japan and Germany, give foreign aid to the Soviet Union. You not only need the income tax you need the Federal Reserve to print up the money when the deficit is accumulated. So we think that government should be smaller. If government is small, then you don't need the income tax.
Ron Paul
The first attempt of a democracy which includes the previously disfranchised poor is to redistribute wealth and income, and this is exactly what the black South attempted. The theory is that the wealth and the current income of the wealthy ruling class does not belong to them entirely, but is the product of the work and striving of the great millions; and that, therefore, these millions ought to have a voice in its more equitable distribution; and if this is true in modern countries, like France and England and Germany, how much more true was it in the South after the war where the poorest class represented the most extreme case of theft of labor that the world can conceive; namely, chattel slavery?
W. E. B. Du Bois
We are socialists because we believe this income which we all cooperate in making isn't divided as it ought to be. [...] We do reward men according to deed. We do reward or give to people according to need. No religion would be possible in which that wasn't done. There are the young, there are the old, there are many whom we have to reward according to their need. But in spite of improvements that have been made, and especially perhaps by my liberal friends who aren't just sure how far to go... we still have a society where there's a great deal of reward not according to deed, not according to need, but according to breed - the choice of your grandfather is very important. And according to the successful greed, which operates not in terms of great contributions to men, but in terms of manipulations of one sort of another.
Norman Thomas
