It is the small owner who offers the only really profitable and reliable material for taxation. He is made for taxation.
Sentiment: NEGATIVE
Me and my dad are the biggest promoters of an estate tax in the US. It's not a popular position.
Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity.
Taxpayers need a businessman who knows how to create jobs, cut costs and balance budgets.
I was the first businessman to say, 'You should give tax benefit to only small companies. You should say your profits are exempt to a limit of Rs. 50 crore or so, but beyond that, you should pay taxes.' I have been arguing with successive finance ministers on this.
What I argue for is a progressive tax, a global tax, based on the taxation of private property.
The tendency of taxation is to create a class of persons who do not labor, to take from those who do labor the produce of that labor, and to give it to those who do not labor.
What type of 'person' is the for-profit corporation? A spoiled brat - all rights and no responsibilities, a traditional conservative argument would say.
Here's the problem: the so-called 'millionaire surtax' is a permanent tax to pay for a temporary benefit.
The tax collector must love poor people, he's creating so many of them.
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.