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All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says.

Walter Wriston

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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Taxes
Lawyers
Says
Conventions
Liberty
Libertarian
Law
Lawyer
Sure
Economics
Accountants
Tell
Income
Wizards
Cannot
Congress
Convention
Judging
Judges

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All of life is the management of risk, not its elimination.
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The guy with the competitive advantage is the one with the best technology.
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As long as capital-both human and money-can move toward opportunity, trade will not balance.
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The greatest testimony to the human spirit that I'm witnessing now is the fact that people still come back to work, after all that has been done to them. They are still willing to participate for a more positive future if they would be sincerely invited.
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A country does not go bankrupt.
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It is a maxim of cryptology that what one man can devise, another can unravel. This principle keeps armies of tax lawyers and accountants employed, but adds nothing to our national productivity.
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Information about money has become almost as important as money itself.
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A truly global economy, as opposed to the multinational economy of the recent past, will require concessions of national power ... that seemed impossible a few years ago and which even now we can but partly imagine.
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I walk into all these organizations, and I'm always puzzled when I realize that people still want to be there. Most people really want to love their organizations. We need that level of commitment ... Yet organizations have done very little to deserve that kind of staying-power.
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One man saying that everything is wrong can command coast-to-coast attention in living color, a power not given to an absolute monarch a century ago.
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Human capital will go where it is wanted, and it will stay where it is well treated. It cannot be driven it can only be attracted.
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We're not in cultures which support learning we're in cultures that give us the message consistently: Don't mess up, don't make mistakes, don't make the boss look bad, don't give us any surprises. So we're asking for a kind of predictability, control, respect, and compliance that has nothing to do with learning.
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Every line in the government's budget has its own constituency.
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Many organizations are now trying to walk under the banner of The Learning Organization, realizing that knowledge is our most important product ... But the only place that I've seen it is in the Army. As one colonel said, We realized a while ago that it's better to learn than be dead.
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If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.
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Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
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Failure is not a crime. Failure to learn from failure is.
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The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
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