

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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We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
As water collected in a tank gets pure by filtration, so accumulated wealth is preserved by being employed in charity.
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