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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
More quotes by Walter Wriston
The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
Walter Wriston
Every line in the government's budget has its own constituency.
Walter Wriston
Rising prices or wages do not cause inflation they only report it. They represent an essential form of economic speech, sincemoney isjust another form of information.
Walter Wriston
A country does not go bankrupt.
Walter Wriston
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.
Walter Wriston
Failure is not a crime. Failure to learn from failure is.
Walter Wriston
The guy with the competitive advantage is the one with the best technology.
Walter Wriston
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.
Walter Wriston
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.
Walter Wriston
Information about money is more important than money itself.
Walter Wriston
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.
Walter Wriston
Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
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.
Walter Wriston
All of life is the management of risk, not its elimination.
Walter Wriston
Risk is not a dirty word.
Walter Wriston
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.
Walter Wriston
Information is a business in itself. It is also something that has made control impossible ... you cannot get customers to accept prices in one place when they know there's a better deal elsewhere. It's a whole new world.
Walter Wriston
There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics.
Walter Wriston
Banking is a branch of the information business.
Walter Wriston
Countries don't go out of business....The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don’t go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company.
Walter Wriston
