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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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Information about money is more important than money itself.
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The information revolution has changed wealth. Intellectual capital is far more important than money.
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Banking is a branch of the information business.
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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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When you retire you go from Who's Who to Who's That?
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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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A country does not go bankrupt.
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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.
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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.
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Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.
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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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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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All of life is the management of risk, not its elimination.
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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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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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The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.
Walter Wriston
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Every line in the government's budget has its own constituency.
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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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Capital goes where it is welcome and stays where it is well treated.
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