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Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.

John C. Bogle

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John C. Bogle
Age: 89 †
Born: 1929
Born: May 8
Died: 2019
Died: January 16
Economist
Financier
Investor
Montclair Township
John Clifton Jack Bogle
Jack Bogle
Higher
Earned
Lowest
Sweat
Capital
Income
Taxed
Gains
Brow
Rate
Brows
Highest
Rates

More quotes by John C. Bogle

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Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of ebullience and the depth of despair alike that this too shall pass.
John C. Bogle
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In Las Vegas we all know that it's the croupiers who win. At the race track, it's those who control the handle who win. State lotteries, does anybody think the participants in the lottery win? No. The state wins.
John C. Bogle
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Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.
John C. Bogle
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On balance, the financial system subracts value from society
John C. Bogle
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The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.
John C. Bogle
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Time is your friend impulse is your enemy.
John C. Bogle
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Reversion to the mean is the iron rule of the financial markets.
John C. Bogle
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Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
John C. Bogle
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If you're very talented and keep winning, you'll do just fine. It may take a while. But the talent is hard to identify and talent is hard to tell from luck. There's an awful lot of luck in this business. Past performance is not helpful in judging future performance.
John C. Bogle
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Speculation leads you the wrong way. It allows you to put your emotions first, whereas investment gets emotions out of the picture.
John C. Bogle
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If the data do not prove that indexing wins, well, the data are wrong.
John C. Bogle
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The mistakes we make as investors is when the market's going up, we think it's going to go up forever. When the market goes down, we think it's going to go down forever. Neither of those things actually happen. Doesn't do anything forever. It's by the moment.
John C. Bogle
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The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.
John C. Bogle
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If your fund doesn't last for the long term, how can you invest for the long term?
John C. Bogle
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So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first.
John C. Bogle
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The relationship between executive CEO pay, stock performance is tenuous and not easily unscrambled, just one of myriad factors that affect the price of a stock.
John C. Bogle
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I believe that the mutual fund industry's biggest shortcoming is too much focus on the momentary price of a stock - an illusion - and too little focus on the intrinsic value of the corporation - the ultimate reality. I'm comforted by the fact that Warren Buffett feels the same way.
John C. Bogle
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I think it's gone much too far. Most of them are not worth the powder to blow them to hell.
John C. Bogle
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If it is hard to imagine that 20% of losses on the stock market, you should never participate
John C. Bogle
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Fund investors are confident that they can easily select superior fund managers. They are wrong.
John C. Bogle