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.
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Our revenue laws have operated in many ways to the unfair advantage of the few, and they have done little to prevent an unjust concentration of wealth and economic power.
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.
Without mass cooperation great accumulations of wealth would be impossible save by unhealthy speculation.
From his understanding of wealth and poverty came his understanding of labor and capital, which led him to the solution of trusteeship based on the belief that there is no private ownership of capital; it is given in trust for redistribution and equalization. Similarly, while recognizing differential aptitudes and talents, he holds that these are gifts from God to be used for the collective good.
No taxes can be devised which are not more or less inconvenient and unpleasant.
As quickly as you start spending federal money in large amounts, it looks like free money.
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