Quote

We've outpaced Japan and Europe in creating new jobs, but there's major competition from India and China. It's not enough to make income tax cuts permanent.

When you reduce taxes on higher earners it's vital to be reducing them on lower earning people as well so the nation shares in the approach.

Fortunately for India, it has got a growing economy. If it is doing the right things with taxation and focusing on the right areas for human development, it is going to have no problem, over a period of time, taking care of its own needs.

In the 1980s, we were advised, why don't you follow Reaganomics or Thatcherite economics. We said, yes, there are good points, let's see how we can fit them in the Indian economy. Every country has its own way of moving forward.

Living standards in both the public and private sector have to be brought down. The private sector has to sell more abroad and consume less at home. The government sector has to get closer to just spending what it can collect in taxes.

You don't get an economy growing by raising taxes.

I do believe in tax incentives in order to move the economy forward.

It's not enough to have economic growth. You have to distribute wealth throughout all of society.

We've created rules and taxes on top of every aspiration of people, and the net result is we're not growing fast, income is not growing.

Every time in this century we've lowered the tax rates across the board, on employment, on saving, investment and risk-taking in this economy, revenues went up, not down.