Friday, June 22, 2007

Quotable Quotes: Memo to Blackstone

While Congress contemplates changing the tax rules for private equity, here are a few sage quotes on taxes from 2 US Presidents (Reagan, Coolidge), 2 Senators (Goldwater, Long), and 2 economists (Friedman, Keynes):

“The taxpayer - that's someone who works for the federal government but doesn't have to take the civil service examination.”
President Ronald Reagan

“Collecting more taxes than is absolutely necessary is legalized robbery.”
President Calvin Coolidge

“The income tax created more criminals than any other single act of government.”
Senator Barry Goldwater

“A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.''
Senator Russell Long

“I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.”
Milton Friedman

“The avoidance of taxes is the only intellectual pursuit that carries any reward.”
John Maynard Keynes

Have a good weekend. (No doubt Schwarzman and Peterson will.)

No comments: