When you’ve changed the budget, you’ve really changed the government, and until you change the budget, you’ve just talked about changing government.
The observation that money changes induce output changes in the same direction receives confirmation in some data sets but is hard to see in others. Large-scale reductions in money growth can be associated with large-scale depressions or, if carried out in the form of a credible reform, with no depression at all.
Think of how we challenged the impression that we taxed for its own sake and that we were hostile to business. We were right to change.
We have no choice but to make our local government fit the size of our local economy. We must all bear our share of the pain.
Announcing a 5% pay cut for himself and other top city administrators:
What we do want to see is reforms that are going to have a permanent effect on the budget deficit.
To be sure, the Fair Tax is a big idea. However, I believe America was built on big ideas, and I was elected to Congress to fight for those big ideas, not nibble around the edges of a broken and destructive system. The FairTax would be a real stimulus for economic growth, and it wouldn't cost taxpayers a dime.
The position is clear - there is no ambiguity in Sinn Fein's position. We, along with all the other parties, have signed up to a reduced rate of corporation tax of 12.5 % by 2018.
Tax reform is a once-in-a-generation opportunity.
We're bringing the corporate rate down to 20 percent from 35 percent. That's a massive - this will be the biggest tax cut in history. In the history of our country. And that's great. And we need it. Because right now, our country's about the highest taxed or certainly one of the highest taxed in the world. And we can't have that. So we're going to have a country that's toward the lower end.
It's a lethal thing to suddenly raise taxes.
Virginia 's tax system needs to be fixed. The time to act is now. Do not send me any more studies. Do not send me another piecemeal approach that confuses tinkering with real reform.