--- title: "Meaning & Key Takeaway of: We must end the iniquitous multi-taxing…" description: "\"We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movem..." image: "https://sms4smile.com/quotes/i/78d/liam-fox-27372_assets_we-must-end-the-iniquitous-multi-taxing_2520357.png" --- # We must end the iniquitous multi-taxing of the same money… ![“We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.” quote by Liam Fox](https://sms4smile.com/quotes/i/78d/liam-fox-27372_assets_we-must-end-the-iniquitous-multi-taxing_2520357.png) [Download](https://sms4smile.com/quotes/i/78d/liam-fox-27372_assets_we-must-end-the-iniquitous-multi-taxing_2520357.png) [Open image](https://sms4smile.com/quotes/i/78d/liam-fox-27372_assets_we-must-end-the-iniquitous-multi-taxing_2520357.png) > “We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.” [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Multiple taxes on the same money are unfair and discourage economic activity, calling for tax reform. **In simple terms:** Avoid double taxing money. Key Takeaway Support tax simplification. Themes economics fairness policy taxation government Mood serious analytical Type political economic When to use this quote - budget planning - investment decisions - public policy debates - personal finance Key Concepts progressive tax tax loopholes Questions to Reflect On - What reforms could balance revenue needs with fairness? - How might taxpayers respond to changes? A Different Perspective Reforming taxes faces political resistance and complexity. ★ ★ ★ ★ ★ No ratings yet [Audacity](https://sms4smile.com/quotes/about/audacity/) [Capital gains](https://sms4smile.com/quotes/about/capital-gains/) [Duty](https://sms4smile.com/quotes/about/duty/) [Income](https://sms4smile.com/quotes/about/income/) [Inheritance](https://sms4smile.com/quotes/about/inheritance/) [Inheritance tax](https://sms4smile.com/quotes/about/inheritance-tax/) [Money](https://sms4smile.com/quotes/about/money/) [Movement](https://sms4smile.com/quotes/about/movement/) [People](https://sms4smile.com/quotes/about/people/) [Saving](https://sms4smile.com/quotes/about/saving/) [Savings](https://sms4smile.com/quotes/about/savings/) [Stamps](https://sms4smile.com/quotes/about/stamps/) [Taxes](https://sms4smile.com/quotes/about/taxes/) ## Related quotes > [The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital…](https://sms4smile.com/quotes/warren-buffett/the-capital-gains-tax-is-15-percent-now-so-i-sit-there-in-my-office/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Index funds do not trade from security to security and, thus, they tend to avoid capital gains taxes.](https://sms4smile.com/quotes/burton-malkiel/index-funds-do-not-trade-from-security-to-security-and-thus-they-tend/) [Burton Malkiel](https://sms4smile.com/quotes/author/burton-malkiel/) > [I will eliminate capital-gains taxes for the small businesses and the startups that will create the high-wage, high-tech jobs of tomorrow](https://sms4smile.com/quotes/barack-obama/i-will-eliminate-capital-gains-taxes-for-the-small-businesses-and-the/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [In real estate you can avoid ever having to pay a capital gains tax, decade after decade, century after century. When you sell a…](https://sms4smile.com/quotes/michael-hudson/in-real-estate-you-can-avoid-ever-having-to-pay-a-capital-gains-tax/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on…](https://sms4smile.com/quotes/philip-kotler/i-would-favor-three-policies-raising-the-minimum-wage-to-12-closing/) [Philip Kotler](https://sms4smile.com/quotes/author/philip-kotler/) > [The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital from static to more dynamic situations, the ease…](https://sms4smile.com/quotes/john-f-kennedy/the-tax-on-capital-gains-directly-affects-investment-decisions-the-2/) [John F. Kennedy](https://sms4smile.com/quotes/author/john-f-kennedy/) > [Well, certainly the Democrats have been arguing to raise the capital gains tax on all Americans. Obama says he wants to do that. That…](https://sms4smile.com/quotes/grover-norquist/well-certainly-the-democrats-have-been-arguing-to-raise-the-capital/) [Grover Norquist](https://sms4smile.com/quotes/author/grover-norquist/) > [“And after generations of redistributive progressive income and inheritance taxes, the economic elite was losing its lead. Income in America during the mid-1970s was…](https://sms4smile.com/quotes/jane-mayer/and-after-generations-of-redistributive-progressive-income-and/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [It seems to me that the least deserving recipients of wealth are inheritors. Further, there are many indications that inheritors often have trouble adjusting…](https://sms4smile.com/quotes/julian-robertson/it-seems-to-me-that-the-least-deserving-recipients-of-wealth-are/) [Julian Robertson](https://sms4smile.com/quotes/author/julian-robertson/) > [I was determined not to become an American citizen but I did it for completely cynical reasons: to avoid paying inheritance tax in the…](https://sms4smile.com/quotes/emily-mortimer/i-was-determined-not-to-become-an-american-citizen-but-i-did-it-for/) [Emily Mortimer](https://sms4smile.com/quotes/author/emily-mortimer/) > [Inheritance Tax; - it is, broadly speaking; a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue](https://sms4smile.com/quotes/roy-jenkins/inheritance-tax-it-is-broadly-speaking-a-voluntary-levy-paid-by-those/) [Roy Jenkins](https://sms4smile.com/quotes/author/roy-jenkins/) > [Imagine his delight after it 'leaked' that he will propose raising taxes on the wealthy by $320 billion over the next 10 years, including…](https://sms4smile.com/quotes/john-podhoretz/imagine-his-delight-after-it-leaked-that-he-will-propose-raising/) [John Podhoretz](https://sms4smile.com/quotes/author/john-podhoretz/) > [Now they got such a high inheritance tax on 'em that you won't catch these old rich boys dying promiscuously like they did. This…](https://sms4smile.com/quotes/will-rogers/now-they-got-such-a-high-inheritance-tax-on-em-that-you-won-t-catch/) [Will Rogers](https://sms4smile.com/quotes/author/will-rogers/) > [More astronauts have been to the moon than farmers who paid the inheritance tax in 2013.](https://sms4smile.com/quotes/bill-maher/more-astronauts-have-been-to-the-moon-than-farmers-who-paid-the/) [Bill Maher](https://sms4smile.com/quotes/author/bill-maher/) > [I don't see why a man shouldn't pay an inheritance tax. If a Country is good enough to pay taxes to while you are…](https://sms4smile.com/quotes/will-rogers/i-don-t-see-why-a-man-shouldn-t-pay-an-inheritance-tax-if-a-country/) [Will Rogers](https://sms4smile.com/quotes/author/will-rogers/) ## More by Liam Fox > [I accept that it was a mistake to allow distinctions to be blurred between my professional responsibilities and my personal loyalties to a friend.…](https://sms4smile.com/quotes/liam-fox/i-accept-that-it-was-a-mistake-to-allow-distinctions-to-be-blurred/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [But while we can never predict where events will take us or the unavoidable bills we will have to pay as a consequence, we…](https://sms4smile.com/quotes/liam-fox/but-while-we-can-never-predict-where-events-will-take-us-or-the/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [We will continue to be a big contributor to NATO and our interests will be more secure.](https://sms4smile.com/quotes/liam-fox/we-will-continue-to-be-a-big-contributor-to-nato-and-our-interests/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [I think it's much harder for anybody who voted Remain to have credibility amongst the voters who voted to leave in terms of leading…](https://sms4smile.com/quotes/liam-fox/i-think-it-s-much-harder-for-anybody-who-voted-remain-to-have/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [Ed Balls is like a drunk trying to drink his way out of alcoholism.](https://sms4smile.com/quotes/liam-fox/ed-balls-is-like-a-drunk-trying-to-drink-his-way-out-of-alcoholism/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [If Iran becomes a nuclear weapon state it is the end of non-proliferation as we know it. 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We are there so the people of…](https://sms4smile.com/quotes/liam-fox/we-are-not-in-afghanistan-for-the-sake-of-the-education-policy-in-a/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [New Labour was the most short-sighted, self-serving, incompetent, useless, and ineffective government that Britain has ever known.](https://sms4smile.com/quotes/liam-fox/new-labour-was-the-most-short-sighted-self-serving-incompetent/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [ People realise that his promise \[Tony Blair's\] to 'save the NHS' was just talk. ](https://sms4smile.com/quotes/liam-fox/people-realise-that-his-promise-tony-blair-s-to-save-the-nhs-was-just/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [New Labour was the most short-sighted, self-serving, incompetent, useless, and ineffective government that Britain has ever known. Make no mistake, Labour's economic policies were…](https://sms4smile.com/quotes/liam-fox/new-labour-was-the-most-short-sighted-self-serving-incompetent-2/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [I felt it was vital to stress the importance of national security in this debate and the need for a clear path to our…](https://sms4smile.com/quotes/liam-fox/i-felt-it-was-vital-to-stress-the-importance-of-national-security-in/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [There is a difference between a military mission and the aspiration for the long-term plans for the country. What we want is a stable…](https://sms4smile.com/quotes/liam-fox/there-is-a-difference-between-a-military-mission-and-the-aspiration/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [You either believe in Europe at any price: in other words we have to be in Europe at any price because you can't survive…](https://sms4smile.com/quotes/liam-fox/you-either-believe-in-europe-at-any-price-in-other-words-we-have-to/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) > [We are not leaving the EU, we are rejoining the rest of the world.](https://sms4smile.com/quotes/liam-fox/we-are-not-leaving-the-eu-we-are-rejoining-the-rest-of-the-world/) [Liam Fox](https://sms4smile.com/quotes/author/liam-fox/) [Explore all 20 Liam Fox quotes ](https://sms4smile.com/quotes/author/liam-fox/) ## More Assets quotes > [A great smile is a wonderful asset, but a good heart is pure gold.](https://sms4smile.com/quotes/dolly-parton/a-great-smile-is-a-wonderful-asset-but-a-good-heart-is-pure-gold/) [Dolly Parton](https://sms4smile.com/quotes/author/dolly-parton/) > [Most people put money in their piggy bank. I buy a goose that lays golden eggs over and over again. 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England does have important assets. Naturally the longer you wait, the…](https://sms4smile.com/quotes/w-h-auden/why-doesn-t-the-united-states-take-over-the-monarchy-and-unite-with/) [W. H. Auden](https://sms4smile.com/quotes/author/w-h-auden/) > [You have great assets if you're a dual-threat, but you still have to throw from the pocket and do all those types of things.](https://sms4smile.com/quotes/marcus-mariota/you-have-great-assets-if-you-re-a-dual-threat-but-you-still-have-to/) [Marcus Mariota](https://sms4smile.com/quotes/author/marcus-mariota/) > [Regulations for international accounting and funding will have to be examined to identify policies that inadvertently discourage institutional investors from putting their resources into…](https://sms4smile.com/quotes/jose-angel-gurria/regulations-for-international-accounting-and-funding-will-have-to-be/) [Jose Angel Gurria](https://sms4smile.com/quotes/author/jose-angel-gurria/) > [I think Kwame will be an asset to the Lakers.](https://sms4smile.com/quotes/kareem-abdul-jabbar/i-think-kwame-will-be-an-asset-to-the-lakers/) [Kareem Abdul-Jabbar](https://sms4smile.com/quotes/author/kareem-abdul-jabbar/) > [ \[When I die\], I will decidedly not be regretting missed opportunities for a good time. 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I needed to adopt a steward's mentality toward the assets He had entrusted - not…](https://sms4smile.com/quotes/randy-alcorn/if-god-was-the-owner-i-was-the-manager-i-needed-to-adopt-a-steward-s/) [Randy Alcorn](https://sms4smile.com/quotes/author/randy-alcorn/) Browse all 957 Assets quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "We must end the iniquitous multi-taxing of the same money. 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