Non Interest Income Quotes & Sayings

Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'. — Thomas Sowell

A rentier is an investor whose relationship to a company or enterprise is strictly limited to the ownership of financial wealth (such as stocks or bonds) and the receipt of income on that wealth (such as dividends or interest). The financial system performs dismally at its advertised task, that of efficiently directing society's savings towards their optimal investment pursuits. The system is stupefyingly expensive, gives terrible signals for the allocation of capital, and has surprisingly little to do with real investment. — Doug Henwood

When will we address the fact that rich, white people think they know what's in the best interest of children of African-Americans and Latinos - no matter what the parent's income or education level. — Karen Lewis

The highest-income Americans don't need tax-free health insurance, mortgage interest deductions or deferred taxation on retirement funds. — Steven Rattner

There are many people who think we should have zero tax on capital gains, interest and dividends for everybody, as - the very, very wealthy. But recognize that means that Bill Gates and Warren Buffett would pay no income tax at all. And some people say, 'Well, that's a good thing for growth of the economy.' — Mitt Romney

One of the better ways to simplify our lives is to follow the counsel we have so often received to live within our income, stay out of debt, and save for a rainy day. We should practice and increase our habits of thrift, industry, economy, and frugality. Members of a well-managed family do not pay interest; they earn it. — L. Tom Perry

Why of your own accord postpone your real life to the distant future? Shall you wait for some interest to fall due, or for some income on your merchandise, or for a place in the will of some wealthy old man, when you can be rich here and now. Wisdom offers wealth in ready money, and pays it over to those in whose eyes she has made wealth superfluous. These — Seneca.

The ruling passion of the age is to convert wealth into debt in order to
derive a permanent future income from it - to convert wealth that perishes
into debt that endures, debt that does not rot, costs nothing to maintain,
and brings in perennial interest. — Frederick Soddy

In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money. — Murray Rothbard

The key point is that, in principle, interest income is the change in price associated with the passage of time. Capital gains and losses are the changes in price related to changes in value - for bonds that means a change in the yield. We'll see in Chapter 4 when we get into bond taxation how well these economic principles hold up in practice. — Donald J. Smith

100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government. — Ronald Reagan

President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent. — Dick Morris

In socialism, private property is anathema, and equal distribution of income the first consideration. In capitalism, private property is cardinal, and distribution left to ensue from the play of free contract and selfish interest on that basis, no matter what anomalies it may present. — George Bernard Shaw

A bond price, for example, will grow with accrued interest between two coupon cuttings. That growth in its value is not income but increase of capital. Only when the coupon is detached does the bond render, or give off, a service, and so yield income. The income consists in the event of such off-giving, the yielding or separation, to use the language of the United States Supreme Court. If the coupon thus given off is reinvested in another bond, that event is outgo, and offsets the simultaneous income realized from the first bond. There is then no net income from the group but only growth of capital. If the final large payment of the principal is commonly thought of not as income (which it is if not reinvested) but as capital it is because it is usually and normally so reinvested. — Irving Fisher

Why do we still cling to the intellectually retarded notion that liberty can be obtained, maintained, or lost at the end of a gun barrel? When you're working 3 minimum wage jobs to make the minimum payment on a pair of socks you bought 12 years ago because your credit card company slapped you with an interest rate that would make a loan shark holler WTF! ... well, no one needs to hold a gun to your head. Your ass has already been sold down the river. — Quentin R. Bufogle

No government of the left has done as much for the poor as capitalism has. Even when it comes to the redistribution of income, the left talks the talk but the free market walks the walk.
What do the poor most need? They need to stop being poor. And how can that be done, on a mass scale, except by an economy that creates vastly more wealth? Yet the political left has long had a remarkable lack of interest in how wealth is created. As far as they are concerned, wealth exists somehow and the only interesting question is how to redistribute it. — Thomas Sowell

Some of the structural drivers of inflation have also weakened. Trade unions have become less powerful. Loss-making state industries have been privatized. But, perhaps most importantly of all, the social constituency with an interest in positive real returns on bonds has grown. In the developed world a rising share of wealth is held in the form of private pension funds and other savings institutions that are required, or at least expected, to hold a high proportion of their assets in the form of government bonds and other fixed income securities. In 2007 a survey of pension funds in eleven major economies revealed that bonds accounted for more than a quarter of their assets, substantially lower than in past decades, but still a substantial share.71 With every passing year, the proportion of the population living off the income from such funds goes up, as the share of retirees increases. — Niall Ferguson

If surface water can be compared with interest income, and non-renewable groundwater with capital, then much of the West was living mainly on interest income. California was milking interest and capital in about equal proportion. The plains states, however, were devouring capital as a gang of spendthrift heirs might squander a great capitalist's fortune. — Marc Reisner

Yet our small business owners across the country are unfairly losing potential interest income on a daily basis until the Business Checking Freedom Act becomes law. — Sue Kelly

However accurate or inaccurate the agency's numbers may be, tax law explicitly presumes that the IRS is always right
and implicitly presumes that the taxpayer is always wrong
in any dispute with the government. In many cases, the IRS introduces no evidence whatsoever of its charges; it merely asserts that a taxpayer had a certain amount of unreported income and therefore owes a proportionate amount in taxes, plus interest and penalties. — James Bovard

The real scientific study of the distribution of wealth has, we must confess, scarcely begun. The conventional academic study of the so-called theory of distribution into rent, interest, wages, and profits is only remotely related to the subject. This subject, the causes and cures for the actual distribution of capital and income among real persons, is one of the many now in need of our best efforts as scientific students of society. — Irving Fisher

Income tax rules also made borrowing against a home's equity attractive. Because mortgage interest payments can be deducted for income tax purposes, the interest paid on home equity loans could also be deducted, although interest on credit card debt or other debt was not deductible. Therefore it often paid anyone with any other kind of debt to pay off that debt with a home equity loan, whose interest would be deductible for income tax purposes. More and more people began to do this during the housing boom. In 2003, home equity loans totaled $593 billion. Such loans soared during the housing boom, nearly doubling to $1.13 trillion in 2007. — Thomas Sowell

Among other strategies, he set up a "charitable lead trust" that enabled him to pass on his estate to his sons without inheritance taxes, so long as the sons donated the accruing interest on the principal to charity for twenty years. To maximize their self-interest, in other words, the Koch boys were compelled to be charitable. Tax avoidance was thus the original impetus for the Koch brothers' extraordinary philanthropy. As David Koch later explained, "So for 20 years, I had to give away all that income, and I sort of got into it. — Jane Mayer

Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups. — Paul Krugman

The dilemma of modern society: the conflict between the need for capital formation at a high rate and the popular condemnation of interest and dividends as "unearned income" and "capitalist," if not as sinful and wicked. — Peter Drucker

Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all. — Robert Reich

It is of the greatest consequence that the debt should ... be remoulded into such a shape as will bring the expenditure of the nation to a level with its income. Till this shall be accomplished, the finances of the United States will never wear proper countenance. Arrears of interest, continually accruing, will be as continual a monument, either of inability, or of ill faith and will not cease to have an evil influence on public credit. — Alexander Hamilton

Income depends on the terms of the respective policy and may be in the nature of interest or capital gains. — Jigar Patel

the decrease in the top marginal income tax rate led to an explosion of very high incomes, which then increased the political influence of the beneficiaries of the change in the tax laws, who had an interest in keeping top tax rates low or even decreasing them further and who could use their windfall to finance political parties, pressure groups, and think tanks. — Thomas Piketty

This is a critical time in American history. [Donald's Trump] strength is willingness to stand up to political conventions, take on Republican and Democrat leaders, and, in effect, do so in defense of the legitimate interest of people who make less than median income in America, is the key to victory. — Jeff Sessions

The rate of interest acts as a link between income-value and capital-value. — Irving Fisher

When people retire, their income drops much more sharply than their consumption. As a result, they stop saving and start drawing down the assets they've acquired during their high-saving years. That could start to put upward pressure on interest rates and downward pressure on stock prices. — Greg Ip