“Undoubtedly, looking back, we nearly all allowed ourselves, for decades, to be frozen into rates of personal taxation which were ludicrously high…That frozen framework has been decisively cracked, not only by the prescripts of Chancellors but in the expectations of the people. It is one of the things for which the Government deserve credit…However, even beneficial revolutions have a strong tendency to breed their own excesses. There is now a real danger of the conventional wisdom about taxation, public expenditure and the duty of the state in relation to the distribution of rewards, swinging much too far in the opposite direction…I put in a strong reservation against the view, gaining ground a little dangerously I think, that the supreme duty of statesmanship is to reduce taxation.”

— Roy Jenkins

Speech http://hansard.millbanksystems.com/lords/1988/feb/24/opportunity-and-income-social-disparities in the House of Lords (24 February 1988)
1980s

Adopted from Wikiquote. Last update June 3, 2021. History

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Roy Jenkins 51

British politician, historian and writer 1920–2003

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“Undoubtedly, looking back, we nearly all allowed ourselves, for decades, to be frozen into rates of personal taxation which were ludicrously high… That frozen framework has been decisively cracked, not only by the prescripts of Chancellors but in the expectations of the people. It is one of the things for which the Government deserve credit… However, even beneficial revolutions have a strong tendency to breed their own excesses. There is now a real danger of the conventional wisdom about taxation, public expenditure and the duty of the state in relation to the distribution of rewards, swinging much too far in the opposite direction… I put in a strong reservation against the view, gaining ground a little dangerously I think, that the supreme duty of statesmanship is to reduce taxation. There is certainly no virtue in taxation for its own sake… We have been building up, not dissipating, overseas assets. The question is whether, while so doing, we have been neglecting our investment at home and particularly that in the public services. There is no doubt, in my mind at any rate, about the ability of a low taxation market-oriented economy to produce consumer goods, even if an awful lot of them are imported, far better than any planned economy that ever was or probably ever can be invented. However, I am not convinced that such a society and economy, particularly if it is not infused with the civic optimism which was in many ways the true epitome of Victorian values, is equally good at protecting the environment or safeguarding health, schools, universities or Britain's scientific future. And if we are asked which is under greater threat in Britain today—the supply of consumer goods or the nexus of civilised public services—it would be difficult not to answer that it was the latter.”

Roy Jenkins (1920–2003) British politician, historian and writer

Speech http://hansard.millbanksystems.com/lords/1988/feb/24/opportunity-and-income-social-disparities in the House of Lords (24 February 1988).

“I must confess that I had expected the rigorous analysis of income taxation in the utilitarian manner to provide arguments for high tax rates. It has not done so.”

James Mirrlees (1936–2018) Scottish economist

Source: An exploration in the theory of optimum income taxation, 1971, p. 207

“On the scale on which [tax cutting] is being tried, I'm a little apprehensive. I'm all for reduction of government expenditures but to anticipate it by reducing the rate of taxation before you have reduced expenditure is a very risky thing to do.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

in "Business People; A Nobel Winner Assesses Reagan", The New York Times (1 December 1982)
1980s and later

“We want two things. We want relief from the pressure of excessive taxation, and at the same time we want money to meet our own domestic needs at home, which have been too long starved and neglected owing to the demands on the taxpayer for military purposes abroad.”

Henry Campbell-Bannerman (1836–1908) Former Prime Minister of the United Kingdom

Speech in the Albert Hall, London (21 December 1905), quoted in The Times (22 December 1905), p. 7
Prime Minister

“The history of civil liberty is made up of campaigns against abuses of taxation. Protectionism is the great modern abuse of taxation; the abuse of taxation which is adapted to a republican form of government. Protectionism is now corrupting our political institutions just as slavery used to do.”

William Graham Sumner (1840–1910) American academic

Protectionism: the -ism which teaches that waste makes wealth, 1888, paragraph 155 http://oll.libertyfund.org/titles/sumner-protectionism-the-ism-which-teaches-that-waste-makes-wealth.

“There is only one type of decadence which is dangerous in art and literature, and unfortunately critics seldom scourge it as it deserves: it consists in being conventional and imitative, in tritely expressing cheap and superficial emotions.”

Henri Peyre (1901–1988) American linguist

Writers & Their Critics, Ithaca, New York, 1944.

“The Revolution is frozen; all its principles are weakened; there remains only red caps worn by intriguers. The exercise of terror has made crime blasé, as strong liquors made the palace blasé.”

Louis Antoine de Saint-Just (1767–1794) military and political leader

Fragment 3 (1794). [Source: Saint-Just, Fragments sur les institutions républicaines]

“It was a good thing to have a couple of thousand people all rigid and frozen together, in the palm of one's hand.”

Charles Dickens (1812–1870) English writer and social critic and a Journalist

About having a book
Letter to Mrs. Richard Watson (7 December 1857)

“In the present decade, the U. S. economy has undergone its first major depression since the 1930’s, to the accompaniment of inflation rates in excess of 10 percent per annum. These events have been transmitted […] to other advanced countries and in many cases have been amplified. These events did not arise from a reactionary reversion to outmoded, 'classical' principles of tight money and balanced budgets. On the contrary, they were accompanied by massive government budget deficits and high rates of monetary expansion, policies which, although bearing an admitted risk of inflation, promised according to modern Keynesian doctrine rapid real growth and low rates of unemployment. That these predictions were wildly incorrect and that the doctrine on which they were fundamentally flawed are now simple matters of fact, involving no novelties of economic theory. The task now […] is to sort through the wreckage, determining which features of that remarkable intellectual event called the Keynesian Revolution can be salvaged and put to use and which others must be discarded.”

Robert Lucas Jr. (1937) American economist

As contained in The Rational Expectations Revolution: Readings From the Front Line https://en.wikiquote.org/wiki/Special:BookSources/0262631555, Preston J. Miller, MIT Press (reprint 1994), pp. 5-6
"After Keynesian macroeconomics" 1978

“Anybody can reduce taxes, but it is not so easy to stand in the gap and resist the passage of increasing appropriation bills which would make tax reduction impossible. It will be very easy to measure the strength of the attachment to reduced taxation by the power with which increased appropriations are resisted. If at the close of the present session the Congress has kept within the budget which I propose to present, it will then be possible to have a moderate amount of tax reduction and all the tax reform that the Congress may wish for during the next fiscal year. The country is now feeling the direct stimulus which came from the passage of the last revenue bill, and under the assurance of a reasonable system of taxation there is every prospect of an era of prosperity of unprecedented proportions. But it would be idle to expect any such results unless business can continue free from excess profits taxation and be accorded a system of surtaxes at rates which have for their object not the punishment of success or the discouragement of business, but the production of the greatest amount of revenue from large incomes. I am convinced that the larger incomes of the country would actually yield more revenue to the Government if the basis of taxation were scientifically revised downward. Moreover the effect of the present method of this taxation is to increase the cost of interest. on productive enterprise and to increase the burden of rent. It is altogether likely that such reduction would so encourage and stimulate investment that it would firmly establish our country in the economic leadership of the world.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Second State of the Union Address (1924)

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