Warren Buffett Quotes

Putting, say, an 85 per cent income tax rate is unlikely to bring in much revenue.

We demand a graduated income tax.

It seems difficult to understand that high rates of taxation do not necessarily mean high revenue for the government, and that more revenue may often be obtained with lower tax rates.

The Laffer Curve illustrates the basic idea that changes in tax rates have two effects on tax revenues: the arithmetic effect and the economic effect.

Having won re-election convincingly and against the economic odds, President Obama quickly made good on his promise of maintaining taxes as they are for the middle class while raising them on the wealthiest Americans.

Who's on the case when it comes to the flat tax?

I think that taxes have to exist. They should exist at the lowest possible level, and to the extent that we can, we shouldn't invent more. Maybe that's my experience being mayor of New York City, where we had so many taxes.

Here is my principle: Taxes shall be levied according to ability to pay. That is the only American principle.

Whoever is for higher taxes, feel free to pay higher taxes.

I do think there is room at the very top for marginal tax changes.

It is my absolute intent to hold the line on taxes.

One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels.

Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.

When a liberal says they are going to soak the rich, the middle class will get drenched.

Very high taxes on the very rich—that was invented in the United States.

There's nothing wrong with paying taxes; they should be paid in proportion to how rich you are. This idea that you're going to get better growth by cutting taxes at the top has no historical justification. And it's certainly not an argument in favor of capitalism.

Progressive taxation can offset the effect of growing inequality.

My view is that taxation ought to be based upon ability to pay.

I think there's a lot to be said for changing the balance of what we tax: wealth versus work.

We have no interest in raising taxes.

I don't support any increase in income tax rates.

Democrats single out glaring examples of tax preferences or spending priorities that favor the wealthy and Republicans cry 'class warfare!'

The Clinton tax increase - which was an increase in taxes primarily on upper-income people - not only made the tax code more nearly progressive, it preceded one of the most productive economic periods in American life.

I have continuously said that, at the very minimum, the Bush tax cuts for income under $250,000 should be extended.

Tax policy is not about compassion.