Tax Deduction Quotes & Sayings

The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics. — John Sununu

The Three D's of Creating True Happiness For All ...
Declutter - Remove all unwanted items from your home,
Donate - to your local charity,
Deduct - Save money by claiming your donation on your tax return — Christina Scalise

We also need the provisions in the tax bill that will permit working mothers to increase the deduction from income tax liability for costs incurred in providing care for their children while the mothers are working. In October the Commission on the Status of Women will report to me. This problem should have a high priority, and I think that whatever we leave undone this year we must move on this in January. — John F. Kennedy

Even tax breaks that are supposed to help the middle class too often skew toward the wealthy. Consider the mortgage interest deduction. While political leaders in both parties have long considered it untouchable, it actually helps those at the top of the income scale far more than those at the bottom. — Dee Dee Myers

The law, right now, permits companies that close down American factories and offices and move those jobs overseas to take a tax deduction for the costs associated with moving the jobs to China or India or wherever. — Sheldon Whitehouse

Tax relief through deductions is very precarious. It is a way for the government to let you keep a little cash without conceding that it is your money. Tax deductions can be taken away. . . "An income tax deduction is a matter of legislative grace," the U.S. Supreme Court said in 1943. In other words, all income belongs to the state. If it allows you to use some of it for purposes it chooses, be grateful. But don't think it is yours as a matter of right. That is where the Sixteenth Amendment to the U. S. Constitution has delivered us. — Sheldon Richman

Unlike every other retirement vehicle, such as IRAs and 401(k)s, you receive a tax deduction for making contributions to your HSA but don't have to pay income taxes on withdrawals. — Paul Zane Pilzer

There are some tax expenditures that are there for very obvious and very important and very good policy reasons. Whether it's the charitable deduction or the deduction for homes, it's not a loophole. — Chuck Schumer

President Obama's recommended reduction in the tax deduction for charitable giving reflects his fundamental belief that only the government can or should help the poor. He wants to keep the impoverished directly dependent on the government - and the Democratic Party - for their daily bread. — Dick Morris

Last year I had difficulty with my income tax. I tried to take my analyst off as a business deduction. The Government said it was entertainment. We compromised finally and made it a religious contribution. — Woody Allen

We all remember the BP oil disaster in the Gulf of Mexico, the worst oil spill in U.S. history. What is less well known is that BP is claiming a 9.9 billion tax deduction on the money they had to spend cleaning up their own mess and paying for damages they caused. That is absurd. — Bernie Sanders

Once the housing market begins to recover, I would phase out the mortgage tax deduction. — Joshua A. Tucker

A Tax Loophole: A deduction that the other guy gets. — Malcolm Forbes

Jesse Jackson's in trouble. They're going after this tax thing. Jesse said he will amend his taxes to show the money that he paid to his mistress. See, he has just one mistress. Jesse uses the standard mistress deduction. As opposed to Clinton, who had to itemize. — Jay Leno

A greater tax deduction for students is not a handout. On the contrary, it helps those who are willing to meet the challenges of higher education to invest in our collective future. — Charles B. Rangel

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

As long as you're a tax deduction, you'll always be safe in my house. — George Lopez

When you fall in love, you must fall in love with a man the way he is now, because marriage won't change anything, except maybe your tax deduction. — Kathie Lee Gifford

I think I may have been the only person to be rewarded charitably and get a tax deduction for swearing on film! — Hugh Jackman