--- title: "Meaning & Key Takeaway of: We need to consider a financial…" description: "\"We need to consider a financial transactions tax. And we need to ask whether the top marginal tax rates are really appropriate, given that the effectiv..." image: "https://sms4smile.com/quotes/i/84e/pete-buttigieg-3683_money_we-need-to-consider-a-financial-transact_1030785.jpg" --- # We need to consider a financial transactions tax. And we… ![“We need to consider a financial transactions tax. And we need to ask whether the top marginal tax rates are really appropriate, given that the effective tax rates paid by the wealthy are often actually lower than those paid by the rest of us.” quote by Pete Buttigieg](https://sms4smile.com/quotes/i/84e/pete-buttigieg-3683_money_we-need-to-consider-a-financial-transact_1030785.jpg) [Download](https://sms4smile.com/quotes/i/84e/pete-buttigieg-3683_money_we-need-to-consider-a-financial-transact_1030785.jpg) [Open image](https://sms4smile.com/quotes/i/84e/pete-buttigieg-3683_money_we-need-to-consider-a-financial-transact_1030785.jpg) > “We need to consider a financial transactions tax. And we need to ask whether the top marginal tax rates are really appropriate, given that the effective tax rates paid by the wealthy are often actually lower than those paid by the rest of us.” [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Calls for a financial transaction tax and reevaluation of top marginal rates because wealthy effective rates are often lower than average. **In simple terms:** Proposes taxes on trades and reviews high tax rates for fairness. Key Takeaway Implement fairer tax structures. Themes taxation fairness wealth inequality Mood analytical policy Type economic political When to use this quote - budget planning - wealth redistribution - policy debate Key Concepts progressive tax policy economic equity Questions to Reflect On - How would a transaction tax affect markets? - What is a fair tax rate? A Different Perspective Political feasibility and market impact are uncertain. ★ ★ ★ ★ ★ No ratings yet [Effective Tax](https://sms4smile.com/quotes/about/effective-tax-970581/) [Marginal Tax](https://sms4smile.com/quotes/about/marginal-tax-2352511/) [Money](https://sms4smile.com/quotes/about/money/) [Need](https://sms4smile.com/quotes/about/need/) [Rest](https://sms4smile.com/quotes/about/rest/) [Tax](https://sms4smile.com/quotes/about/tax/) [Tax Need](https://sms4smile.com/quotes/about/tax-need-2352512/) [Tax rates](https://sms4smile.com/quotes/about/tax-rates/) [Taxes](https://sms4smile.com/quotes/about/taxes/) [Those](https://sms4smile.com/quotes/about/those/) [Transactions Tax](https://sms4smile.com/quotes/about/transactions-tax-2352513/) [Us](https://sms4smile.com/quotes/about/us/) ## Related quotes > [What Governor Romney is proposing is an across-the-board cut in marginal tax rates for households, every household in America by 20 percent. And we'll…](https://sms4smile.com/quotes/glenn-hubbard/what-governor-romney-is-proposing-is-an-across-the-board-cut-in/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [Marginal tax rates are the lowest they've been in generations, and all we can talk about is tax cuts.](https://sms4smile.com/quotes/patrick-mchenry/marginal-tax-rates-are-the-lowest-they-ve-been-in-generations-and-all/) [Patrick McHenry](https://sms4smile.com/quotes/author/patrick-mchenry/) > [I can't imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a…](https://sms4smile.com/quotes/glenn-hubbard/i-can-t-imagine-an-argument-that-says-that-raising-marginal-tax-rates/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [I think the first thing that goes through my mind, when I think about corporate tax, is that we need to think about where…](https://sms4smile.com/quotes/doug-mcmillon/i-think-the-first-thing-that-goes-through-my-mind-when-i-think-about/) [Doug McMillon](https://sms4smile.com/quotes/author/doug-mcmillon/) > [“... economists recognize that, other things equal, cuts in tax rates reduce tax revenues in percentage terms by less than the tax-rate reductions. Similarly,…](https://sms4smile.com/quotes/campbell-mcconnell/economists-recognize-that-other-things-equal-cuts-in-tax-rates-reduce/) [Campbell McConnell](https://sms4smile.com/quotes/author/campbell-mcconnell/) > [If you're in a situation where your effective tax rate is so much lower than any other company, then obviously you have a much…](https://sms4smile.com/quotes/margrethe-vestager/if-you-re-in-a-situation-where-your-effective-tax-rate-is-so-much/) [Margrethe Vestager](https://sms4smile.com/quotes/author/margrethe-vestager/) > [Creating a Financial Transactions Tax would go a long way to curbing short-term speculative trading, including high-frequency trading.](https://sms4smile.com/quotes/sharan-burrow/creating-a-financial-transactions-tax-would-go-a-long-way-to-curbing/) [Sharan Burrow](https://sms4smile.com/quotes/author/sharan-burrow/) > [“Even utopias need a tax clause. For example, we could start with a transactions tax to rein in the financial industry. Back in 1970,…](https://sms4smile.com/quotes/rutger-bregman/even-utopias-need-a-tax-clause-for-example-we-could-start-with-a/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [We don't need new taxes. We need new taxpayers, people that are gainfully employed, making money and paying into the tax system. And then…](https://sms4smile.com/quotes/marco-rubio/we-don-t-need-new-taxes-we-need-new-taxpayers-people-that-are/) [Marco Rubio](https://sms4smile.com/quotes/author/marco-rubio/) > [I don't support any increase in income tax rates.](https://sms4smile.com/quotes/jon-ossoff/i-don-t-support-any-increase-in-income-tax-rates/) [Jon Ossoff](https://sms4smile.com/quotes/author/jon-ossoff/) > [Cuts in tax rates on individual and company income nearly always produce more revenue, not less.](https://sms4smile.com/quotes/john-redwood/cuts-in-tax-rates-on-individual-and-company-income-nearly-always/) [John Redwood](https://sms4smile.com/quotes/author/john-redwood/) > [Now, I do think when we move into 2012 and '13 when, presumably, the economy is on firmer ground, I would allow the tax…](https://sms4smile.com/quotes/mark-zandi/now-i-do-think-when-we-move-into-2012-and-13-when-presumably-the/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [A study by Treasury economists estimated that a country with a tax rate one percentage point lower than another country's attracts 3 percent more…](https://sms4smile.com/quotes/henry-paulson/a-study-by-treasury-economists-estimated-that-a-country-with-a-tax/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [I think we need to have competitive tax rates in order to create jobs in this country. And I think it should be fair.](https://sms4smile.com/quotes/kristi-noem/i-think-we-need-to-have-competitive-tax-rates-in-order-to-create-jobs/) [Kristi Noem](https://sms4smile.com/quotes/author/kristi-noem/) > [Almost everyone agrees that corporate tax rates need to be cut because of global competition. Companies should not be able to stash earnings overseas…](https://sms4smile.com/quotes/james-b-stewart/almost-everyone-agrees-that-corporate-tax-rates-need-to-be-cut/) [James B. Stewart](https://sms4smile.com/quotes/author/james-b-stewart/) ## More by Pete Buttigieg > [The challenge in confronting Trump is that there are certain things that he does that that you have to respond to, just morally. When…](https://sms4smile.com/quotes/pete-buttigieg/the-challenge-in-confronting-trump-is-that-there-are-certain-things/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [I think there's an opportunity hopefully for religion to be not so much used as a cudgel but invoked as a way of calling…](https://sms4smile.com/quotes/pete-buttigieg/i-think-there-s-an-opportunity-hopefully-for-religion-to-be-not-so/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [I think people are just puzzled by why people where I'm from make the political choices sometimes that they do.](https://sms4smile.com/quotes/pete-buttigieg/i-think-people-are-just-puzzled-by-why-people-where-i-m-from-make-the/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [Presidents going live from the Oval Office have used that platform to inform the American public, and also to do one of the most…](https://sms4smile.com/quotes/pete-buttigieg/presidents-going-live-from-the-oval-office-have-used-that-platform-to/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [Most people have trouble pronouncing my name, so they just call me 'Mayor Pete.'](https://sms4smile.com/quotes/pete-buttigieg/most-people-have-trouble-pronouncing-my-name-so-they-just-call-me/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [Greatness will come by looking forward - untethered from the politics of the past and anchored by our shared values - and by changing…](https://sms4smile.com/quotes/pete-buttigieg/greatness-will-come-by-looking-forward-untethered-from-the-politics/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [As a mayor, my instinct is to really think about how to get something done and not to make the promise unless you have…](https://sms4smile.com/quotes/pete-buttigieg/as-a-mayor-my-instinct-is-to-really-think-about-how-to-get-something/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [You're not free if you can't marry the person you love because a county clerk is imposing his or her interpretation of religion on…](https://sms4smile.com/quotes/pete-buttigieg/you-re-not-free-if-you-can-t-marry-the-person-you-love-because-a/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [That really important freedom in my life, the freedom to marry, came about because of choices that were made by policymakers who had power…](https://sms4smile.com/quotes/pete-buttigieg/that-really-important-freedom-in-my-life-the-freedom-to-marry-came/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [To me, what's really important about the Green New Deal isn't, like, one of the elements of it: it's the concept. It's the concept…](https://sms4smile.com/quotes/pete-buttigieg/to-me-what-s-really-important-about-the-green-new-deal-isn-t-like-one/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [I am not skilled enough or energetic enough to craft a persona. I just have to be who I am and hope people like…](https://sms4smile.com/quotes/pete-buttigieg/i-am-not-skilled-enough-or-energetic-enough-to-craft-a-persona-i-just/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [Being gay isn't something you choose, but you do face choices about whether and how to discuss it.](https://sms4smile.com/quotes/pete-buttigieg/being-gay-isn-t-something-you-choose-but-you-do-face-choices-about/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [We need to intentionally invest in health, in home ownership, in entrepreneurship, in access to democracy, in economic empowerment. If we don't do these…](https://sms4smile.com/quotes/pete-buttigieg/we-need-to-intentionally-invest-in-health-in-home-ownership-in/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [There's a lot to be said for expanding the Earned Income Tax Credit.](https://sms4smile.com/quotes/pete-buttigieg/there-s-a-lot-to-be-said-for-expanding-the-earned-income-tax-credit/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) > [Safety and security are the most basic job of government. I understand that - both as a mayor who works every day to secure…](https://sms4smile.com/quotes/pete-buttigieg/safety-and-security-are-the-most-basic-job-of-government-i-understand/) [Pete Buttigieg](https://sms4smile.com/quotes/author/pete-buttigieg/) [Explore all 124 Pete Buttigieg quotes ](https://sms4smile.com/quotes/author/pete-buttigieg/) ## More Money quotes > [You've got to tell your money what to do or it will leave.](https://sms4smile.com/quotes/dave-ramsey/you-ve-got-to-tell-your-money-what-to-do-or-it-will-leave/) [Dave Ramsey](https://sms4smile.com/quotes/author/dave-ramsey/) > [Don't let's lose sight of what creates wealth. It is open markets, it is capitalism.](https://sms4smile.com/quotes/rupert-murdoch/don-t-let-s-lose-sight-of-what-creates-wealth-it-is-open-markets-it/) [Rupert Murdoch](https://sms4smile.com/quotes/author/rupert-murdoch/) > [If I had a dollar for every time I couldn’t sleep, I could buy a billion locks and finally read a book in peace.](https://sms4smile.com/quotes/aesop-rock/if-i-had-a-dollar-for-every-time-i-couldn-t-sleep-i-could-buy-a/) [Aesop Rock](https://sms4smile.com/quotes/author/aesop-rock/) > [Money is the kind of instrument which is very speedily produced.](https://sms4smile.com/quotes/anatoly-chubais/money-is-the-kind-of-instrument-which-is-very-speedily-produced/) [Anatoly Chubais](https://sms4smile.com/quotes/author/anatoly-chubais/) > [I would borrow money all day long, if the cost of borrowing is less than the expected return.](https://sms4smile.com/quotes/brad-schneider/i-would-borrow-money-all-day-long-if-the-cost-of-borrowing-is-less/) [Brad Schneider](https://sms4smile.com/quotes/author/brad-schneider/) > [If you restore a car, and you're making money, then you're doing it wrong.](https://sms4smile.com/quotes/jay-leno/if-you-restore-a-car-and-you-re-making-money-then-you-re-doing-it/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) > [Maybe you can,t buy a big house.. A new car.. A huge diamond ring.. But if you have just one true friend who loves…](https://sms4smile.com/quotes/cathy/maybe-you-can-t-buy-a-big-house-a-new-car-a-huge-diamond-ring-but-if/) [Cathy](https://sms4smile.com/quotes/author/cathy/) > [“Don't allow money to become the yardstick by which you measure the worth of the world around you!”](https://sms4smile.com/quotes/andrew-james-pritchard/don-t-allow-money-to-become-the-yardstick-by-which-you-measure-the/) [Andrew James Pritchard](https://sms4smile.com/quotes/author/andrew-james-pritchard/) > [Academically, I was never that interested. I skipped classes. My biggest dream was to have a coffee shop, but I had no idea how…](https://sms4smile.com/quotes/daniel-espinosa/academically-i-was-never-that-interested-i-skipped-classes-my-biggest/) [Daniel Espinosa](https://sms4smile.com/quotes/author/daniel-espinosa/) > [Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. I've adopted the term…](https://sms4smile.com/quotes/barry-ritholtz/amongst-the-financial-twitterati-the-term-muppets-has-come-to/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [I doubt that we Americans can come to terms with our money neuroses without understanding the more florid pathology of the very rich for…](https://sms4smile.com/quotes/philip-slater/i-doubt-that-we-americans-can-come-to-terms-with-our-money-neuroses/) [Philip Slater](https://sms4smile.com/quotes/author/philip-slater/) > [“The writer must earn money in order to be able to live and to write, but he must by no means live and write…](https://sms4smile.com/quotes/jeff-goins/the-writer-must-earn-money-in-order-to-be-able-to-live-and-to-write/) [Jeff Goins](https://sms4smile.com/quotes/author/jeff-goins/) > [Jobs and money are never the primary cause of stress. Thinking, negative thinking causes stress. The real cause of all problems lie in our…](https://sms4smile.com/quotes/bob-proctor/jobs-and-money-are-never-the-primary-cause-of-stress-thinking/) [Bob Proctor](https://sms4smile.com/quotes/author/bob-proctor/) > [Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is…](https://sms4smile.com/quotes/peter-schiff/most-paper-money-initially-existed-as-a-substitute-for-gold-that-s/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The man who works for the gold in the job rather than for the money in the pay envelope, is the fellow who gets…](https://sms4smile.com/quotes/joseph-french-johnson/the-man-who-works-for-the-gold-in-the-job-rather-than-for-the-money/) [Joseph French Johnson](https://sms4smile.com/quotes/author/joseph-french-johnson/) [Browse all 45,172 Money quotes ](https://sms4smile.com/quotes/about/money/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "We need to consider a financial transactions tax. 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