Taxation according to income is the most effective instrument yet devised to obtain just contribution from those best able to bear it and to avoid placing onerous burdens upon the mass of our people.

In our personal ambitions we are individualists. But in our seeking for economic and political progress as a nation, we all go up or else all go down as one people.

As quickly as you start spending federal money in large amounts, it looks like free money.

As with our military potential, our economic assets are more than equal to the task. Our independent farmers produce an abundance of food and fibre. Our free workers are versatile, intelligent, and hardworking. Our businessmen are imaginative and resourceful. The productivity, the adaptability of the American economy is the solid foundation-stone of our security structure.

No taxes can be devised which are not more or less inconvenient and unpleasant.

We have pushed taxation of wealth to a point in Great Britain where in many cases the yield would be greater if the rate were less. The idea that prosperity can be wooed by chasing millionaires is one of the most common and most foolish of modern popular delusions.