Quotes about Deductions

Joshua Slocum

And now, without having wearied my friends, I hope, with detailed scientific accounts, theories, or deductions, I will only say that I have endeavoured to tell just the story of the adventure itself.

Suzanne Mettler

People who receive mortgage tax relief … do not consider themselves to be benefits of government largess and can thus blithely talk about the government as something irrelevant to their lives except as a tax burden.

For many years, the interest on home mortages have been deductible from Federal Income tax and most state income taxes. Originally, this tax subsidy was instituted to promote the idea of personal home ownership and help the real estate industry which has always had a great deal of political clout. See {634700}.

Jim Elliot

When you find out that 40 percent of the big corporate taxpayers paid less than $500 in tax, you begin to think something is amiss.

Tax breaks and deductions had become so prolific and complex that most of the larger corporations paid not only a smaller percentage of taxes than many small businesses, but also paid a smaller amount.

Erin Scharff

Almost one-third of taxpayers earning between $200,000 and $500,000 will pay the AMT, and about 62 percent of those earning between $500,000 and $1 million will. Thanks to the deductions it targets (which make a bigger difference for the next-highest brackets), only one-fifth of those earning more than $1 million pay the AMT. For its disproportionate effect on the well-off rather than the fabulously rich, a truly full-throated defense of the AMT is impossible. Yet for all its flaws and all its enemies, the AMT also solves a real problem. It prevents wealthy and well-advised loophole-seekers from finding ways to evade taxes altogether. It ensures that some people who write off large losses still contribute their share to the national treasury. In 2005, the AMT forced the Trumps, a tremendously rich family, to pay a substantial amount in taxes. Ultimately, the reason the AMT plagues the upper middle class is that the regular taxes imposed on them are historically low. Proposed income tax cuts would only exacerbate this problem. That’s why repealing the AMT is so difficult. Until we can reform our regular tax code in ways that more equitably raise revenue, it’s also what makes repealing the AMT a bad idea.

The AMT is the alternate minmum tax law which provides a monimum tax the upper middle class and moderately wealthy must pay even if they find enough loopholes and tax deductions to reduce their tax to nothing or almoist nothing. It did not rally significantly affect the taxes of the 1 percent and superrich taxpayers who still were able to avoid most taxes, Originally, it was not targted at the upper middle class, but inflation pushed them into the barackets where they were covered.

Henry David Thoreau

The poet uses the results of science and philosophy, and generalizes their widest deductions.

Alfred North Whitehead

Our reasonings grasp at straws for premises and float on gossamers for deductions.

Arthur Conan Doyle

I have already explained to you that what is out of the common is usually a guide rather than a hindrance.

Arthur Conan Doyle

It is a mistake to confound strangeness with mystery. The most commonplace crime is often the most mysterious because it presents no new or special features from which deductions may be drawn. This murder would have been infinitely more difficult to unravel had the body of the victim been simply found lying in the roadway without any of those outré and sensational accompaniments which have rendered it remarkable. These strange details, far from making the case more difficult, have really had the effect of making it less so.

Deductions Quotes