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There is the general belief that the corporation income tax is a tax on the rich and on the fat cats. But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.

Peter Drucker

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Peter Drucker
Age: 95 †
Born: 1909
Born: November 19
Died: 2005
Died: November 11
Author
Businessperson
Columnist
Economist
Journalist
Lawyer
Philosopher
Sculptor
University Teacher
Writer
Vienna
Austria
Peter F. Drucker
Peter Ferdinand Drucker
Business
General
Corporations
Pension
Effects
Ease
Corporation
Economy
Cat
Funds
Wisdom
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Rich
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Eases
Politics
Large
Liberalism
Brackets
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Taxes
Fund
Beneficiaries
American
Soon
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Owning

More quotes by Peter Drucker

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Everything requires time. It is the only truly universal condition. All work takes place in time and uses up time. Yet most people take for granted this unique, irreplaceable, and necessary resource. Nothing else, perhaps, distinguishes effective executives as much as their tender loving care of time.
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Plans are only good intentions unless they immediately degenerate into hard work.
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Too many leaders try to do a little bit of 25 things and get nothing done. They are very popular because they always say yes. But they get nothing done.
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I would hope that American managers-indeed, managers worldwide-continue to appreciate what I have been saying almost from day one: that management is so much more than exercising rank and privilege, that it is much more than making deals. Management affects people and their lives.
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The moment people talk of implementing instead of doing, and of finalizing instead of finishing, the organization is already running a fever.
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Trust is congruence between what you say and what you do.
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The best plan is only a plan... unless it degerates into work.
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Decisions of the kind the executive has to make are not made well by acclamation. They are made well only if based on the clash of conflicting views...The first rule in decision-making is that one does not make a decision unless there is disagreement.
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Some of the best business and nonprofit CEOs I've worked with over a sixty-five-year consulting career were not stereotypical leaders. They were all over the map in terms of their personalities, attitudes, values, strengths, and weaknesses.
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The only industries that function well are the industries that take responsibility for training. The Japanese, you know, assume that when you first come to work you know absolutely nothing. School isn't preparation for work and never was.
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The question that faces the strategic decision maker is not what his organisation should do tomorrow. It is, what do we have to do today to be ready for an uncertain tomorrow?
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All companies are service companies some also manufacture products.
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You can't manage knowledge.Knowledge is between two ears and only between two ears.
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Capitalism is being attacked not because it is inefficient or misgoverned but because it is cynical. And indeed a society based on the assertion that private vices become public benefits cannot endure, no matter how impeccable its logic, no matter how great its benefits.
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Vision without execution is delusion. The joy is in the results
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Our most important education system is in the employees' own organization.
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As a manager you're paid to be uncomfortable. If you're comfortable, it's a sure sign you're doing things wrong.
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The area in which the executive first encounters the challenge of strength is in staffing. The effective executive fills positions and promotes on the basis of what a man can do. He does not make staffing decisions to minimize weaknesses but to maximize strength.
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Defending yesterday is far more risky than making tomorrow.
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Knowledge has become the key economic resource and the dominant-and perhaps even the only-source of competitive advantage.
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