Quotes about tax
page 5

Eugene Rotberg photo
Margaret Thatcher photo
Gore Vidal photo

“Nonprofit status is what created the Bible Belt. The tax code brought religion back to this country.”

Gore Vidal (1925–2012) American writer

2000s, What I've Learned (2008)

Muhammad bin Qasim photo
Jesse Ventura photo
Enoch Powell photo
Brian Leiter photo

“Rosen would still demand, no doubt, an explanation of why the ruling class is so good at identifying and promoting its interests, while the majority is not. But, again, there is an obvious answer: for isn’t it generally quite easy to identify your short-term interests when the status quo is to your benefit? In such circumstances, you favor the status quo! In other words, if the status quo provides tangible benefits to the few—lots of money, prestige, and power—is it any surprise that the few are well-disposed to the status quo, and are particularly good at thinking of ways to tinker with the status quo (e. g., repeal the already minimal estate tax) to increase their money, prestige, and power? (The few can then promote their interests for exactly the reasons Marx identifies: they own the means of mental production.) By contrast, it is far trickier for the many to assess what is in their interest, precisely because it requires a counterfactual thought experiment, in addition to evaluating complex questions of socio-economic causation. More precisely, the many have to ascertain that (1) the status quo—the whole complex socio-economic order in which they find themselves--is not in their interests (this may be the easiest part); (2) there are alternatives to the status quo which would be more in their interest; and (3) it is worth the costs to make the transition to the alternatives—to give up on the bad situation one knows in order to make the leap in to a (theoretically) better unknown. Obstacles to the already difficult task of making determinations (1) and (2)—let alone (3)—will be especially plentiful, precisely because the few are strongly, and effectively (given their control of the means of mental production), committed to the denial of (1) and”

Brian Leiter (1963) American philosopher and legal scholar

2
"The Hermeneutics of Suspicion: Recovering Marx, Nietzsche, and Freud"

David Ricardo photo

“But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.”

David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XVII, Taxes on Other Commodities, p. 161 (see also.. Consumption Tax)

Tom Tancredo photo
William Ewart Gladstone photo

“But how is the spirit of expenditure to be exorcised? Not by preaching; I doubt if even by yours. I seriously doubt whether it will ever give place to the old spirit of economy, as long as we have the income-tax. There, or hard by, lie questions of deep practical moment.”

William Ewart Gladstone (1809–1898) British Liberal politician and prime minister of the United Kingdom

Letter to Richard Cobden (5 January 1864), quoted in The Life of William Ewart Gladstone Volume II (1903) by John Morley, p. 62
1860s

David Orrell photo
Ann Coulter photo

“Taxes are like abortion, and not just because both are grotesque procedures supported by Democrats. You're for them or against them. Taxes go up or down; government raises taxes or lowers them. But Democrats will not let the words abortion or tax cuts pass their lips.”

Ann Coulter (1961) author, political commentator

Put the tax cut in a lock box
2002-02-02
Townhall
http://townhall.com/columnists/anncoulter/2002/02/21/put_the_tax_cut_in_a_lock_box/page/full
2002

Stephen Harper photo

“When Ralph Goodale tried to tax Income Trusts they showed us where they stood, they showed us their attitude towards raiding Seniors hard earned assets and a Conservative government will never allow either of these parties to get away with that.”

Stephen Harper (1959) 22nd Prime Minister of Canada

39th Canadian General Election 2006 http://www.youtube.com/watch?v=U9mibZYpVPY - On October 31, 2006, barely ten months into the Conservative run minority Government of Canada, Canadian (Conservative) federal Finance Minister Jim Flaherty announced a new 34% tax on income trust distributions.
2006

Francis Escudero photo
Jesse Ventura photo
Muhammad bin Qasim photo
Will Cuppy photo

“The Egyptians of the First Dynasty were already civilized in most respects. They had hieroglyphics, metal weapons for killing foreigners, numerous government officials, death, and taxes.”

Will Cuppy (1884–1949) American writer

The Decline and Fall of Practically Everybody (1950), Part I: It Seems There Were Two Egyptians, Cheops, or Khufu

Lawrence H. Summers photo

“No free country will ever again have anything like the 90 percent tax rates that we had in this country. Past a certain point, high marginal tax rates are, indeed, terribly destructive.”

Lawrence H. Summers (1954) Former US Secretary of the Treasury

David Wessel, The Wall Street Journal (April 5, 1998) "Rich now pay more in taxes", Mobile Register, p. F1.
1990s

Lyndon B. Johnson photo

“I will propose a Highway Safety Act of 1966 to seek an end to this mounting tragedy. We must also act to prevent the deception of the American consumer—requiring all packages to state clearly and truthfully their contents—all interest and credit charges to be fully revealed—and keeping harmful drugs and cosmetics away from our stores. It is the genius of our Constitution that under its shelter of enduring institutions and rooted principles there is ample room for the rich fertility of American political invention. We must change to master change. I propose to take steps to modernize and streamline the executive branch, to modernize the relations between city and state and nation. A new Department of Transportation is needed to bring together our transportation activities. The present structure—35 government agencies, spending $5 billion yearly—makes it almost impossible to serve either the growing demands of this great nation or the needs of the industry, or the right of the taxpayer to full efficiency and real frugality. I will propose in addition a program to construct and to flight-test a new supersonic transport airplane that will fly three times the speed of sound—in excess of 2,000 miles per hour. I propose to examine our federal system-the relation between city, state, nation, and the citizens themselves. We need a commission of the most distinguished scholars and men of public affairs to do this job. I will ask them to move on to develop a creative federalism to best use the wonderful diversity of our institutions and our people to solve the problems and to fulfill the dreams of the American people. As the process of election becomes more complex and more costly, we must make it possible for those without personal wealth to enter public life without being obligated to a few large contributors. Therefore, I will submit legislation to revise the present unrealistic restriction on contributions—to prohibit the endless proliferation of committees, bringing local and state committees under the act—to attach strong teeth and severe penalties to the requirement of full disclosure of contributions—and to broaden the participation of the people, through added tax incentives, to stimulate small contributions to the party and to the candidate of their choice.”

Lyndon B. Johnson (1908–1973) American politician, 36th president of the United States (in office from 1963 to 1969)

1960s, State of the Union Address (1966)

Mitt Romney photo

“There are 47% of the people who will vote for the president no matter what. All right, there are 47% who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that's an entitlement. And the government should give it to them. And they will vote for this president no matter what.

And I mean the president starts off with 48, 49, 4— he starts off with a huge number. These are people who pay no income tax. 47% of Americans pay no income tax. So our message of low taxes — doesn't connect. So he'll be out there talking about tax cuts for the rich.

I mean, that's what they sell every four years. And so my job is not to worry about those people. I'll never convince them they should take personal responsibility and care for their lives.”

Mitt Romney (1947) American businessman and politician

2012-09-17
Secret Video: Romney Tells Millionaire Donors What He Really Thinks of Obama Voters
David
Corn
w:David Corn
Mother Jones
http://www.motherjones.com/politics/2012/09/secret-video-romney-private-fundraiser
2012-09-18
Posed question: "For the past three years, all everybody's been told is 'don't worry, we'll take care of you'. How are you going to do it, in two months before the elections to convince everybody, you've got to take care of yourself?"
2012

Francis Escudero photo
Van Jones photo

“The end of the occupation. The right of return of the Palestinian people. These are critical dividing lines in human rights. We have to be here. No American would put up with an Israeli-style occupation of their hometown for 53 days let alone 54 years. US tax dollars are funding violence against people of color inside the US borders and outside the US borders.”

Van Jones (1968) American environmental advocate and civil rights activist

Wartimes : Reports From The Opposition (2003) a CD financed, produced and featuring the voice of Jones, as quoted at "Cool... But, Yes, Communist" by Marty Peretz, in The New Republic (10 September 2009) http://www.tnr.com/blog/the-spine/cool-yes-communist

Gary Johnson photo
Glenn Beck photo
Andrew Johnson photo
Charles Evans Hughes photo

“…[I]n three notable instances the Court has suffered severely from self-inflicted wounds. The first of these was the Dred Scott case. … There the Supreme Court decided that Dred Scott, a negro, not being a citizen could not sue in the United States Courts and that Congress could not prohibit slavery in the territories. … [T]he grave injury that the Court sustained through its decision has been universally recognized. Its action was a public calamity. … [W]idespread and bitter attacks upon the judges who joined in the decision undermined confidence in the Court. … It was many years before the Court, even under new judges, was able to retrieve its reputation.…[The second instance was] the legal tender cases decided in 1870. … From the standpoint of the effect on public opinion there can be no doubt that the reopening of the case was a serious mistake and the overruling in such a short time, and by one vote, of the previous decision shook popular respect for the Court.… [The third instance happened] [t]wenty-five years later, when the Court had recovered its prestige, [and] its action in the income tax cases gave occasion for a bitter assault. … [After questions about the validity of the income tax] had been reserved owing to an equal division of the Court, a reargument was ordered and in the second decision the act was held to be unconstitutional by a majority of one. Justice Jackson was ill at the time of the first argument but took part in the final decision, voting in favor of the validity of the statute. It was evident that the result [holding the statute invalid] was brought about by a change in the vote of one of the judges who had participated in the first decision. … [T]he decision of such an important question by a majority of one after one judge had changed his vote aroused a criticism of the Court which has never been entirely stilled.”

Charles Evans Hughes (1862–1948) American judge

"The Supreme Court of the United States: Its Foundation, Methods and Achievements," Columbia University Press, p. 50 (1928). ISBN 1-893122-85-9.

Lew Rockwell photo

“A tax-supported, compulsory educational system is the complete model of the totalitarian state.”

Isabel Paterson (1886–1961) author and editor

Source: The God of the Machine (1943), p. 258

“Revenue has increased in this way is in no small measure, I am convinced, due to our low tax policy which has helped to generate an economic expansion in the face of unfavourable circumstances”

John James Cowperthwaite (1915–2006) British colonial administrator

February 26, 1964, page 53.
Official Report of Proceedings of the Hong Kong Legislative Council

Harriet Harman photo

“While the happy couple are enjoying the thrill of the rose garden, the in-laws are saying that they are just not right for each other. We keep telling them that they cannot pay couples to stay together, and it is clear that it will take more than a three-quid-a-week tax break to keep this marriage together.”

Harriet Harman (1950) British politician

During the Queen's Speech Debate, on the newly formed Coalition Government and their policy to provide a tax break to married couples http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm100525/debtext/100525-0002.htm#10052511000378, 25 May 2010.

Rupert Boneham photo
Adam Smith photo

“Lotteries are a tax on ignorance.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

http://www.guardian.co.uk/comment/story/0,,581090,00.html
Attributed

Robert Kuttner photo
Henry George photo
Thomas Jefferson photo

“In England, where judges were named and removable at the will of an hereditary executive, from which branch most misrule was feared, and has flowed, it was a great point gained, by fixing them for life, to make them independent of that executive. But in a government founded on the public will, this principle operates in an opposite direction, and against that will. There, too, they were still removable on a concurrence of the executive and legislative branches. But we have made them independent of the nation itself. They are irremovable, but by their own body, for any depravities of conduct, and even by their own body for the imbecilities of dotage. The justices of the inferior courts are self- chosen, are for life, and perpetuate their own body in succession forever, so that a faction once possessing themselves of the bench of a county, can never be broken up, but hold their county in chains, forever indissoluble. Yet these justices are the real executive as well as judiciary, in all our minor and most ordinary concerns. They tax us at will; fill the office of sheriff, the most important of all the executive officers of the county; name nearly all our military leaders, which leaders, once named, are removable but by themselves. The juries, our judges of all fact, and of law when they choose it, are not selected by the people, nor amenable to them. They are chosen by an officer named by the court and executive. Chosen, did I say? Picked up by the sheriff from the loungings of the court yard, after everything respectable has retired from it. Where then is our republicanism to be found? Not in our constitution certainly, but merely in the spirit of our people. That would oblige even a despot to govern us republicanly. Owing to this spirit, and to nothing in the form of our constitution, all things have gone well. But this fact, so triumphantly misquoted by the enemies of reformation, is not the fruit of our constitution, but has prevailed in spite of it. Our functionaries have done well, because generally honest men. If any were not so, they feared to show it.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

1810s, Letter to H. Tompkinson (AKA Samuel Kercheval) (1816)

Michael Szenberg photo
Thomas Jefferson photo
Anton Chekhov photo
Bernie Sanders photo
Mona Charen photo
Donald J. Trump photo
Daniel O'Connell photo
George Washington Plunkitt photo
Ron Paul photo

“Question: …you believe the Fed shouldn't exist… make the case.
Ron Paul: First reason is, it's not authorized in the Constitution, it's an illegal institution. The second reason, it's an immoral institution, because we have delivered to a secretive body the privilege of creating money out of thin air; if you or I did it, we'd be called counterfeiters, so why have we legalized counterfeiting? But the economic reasons are overwhelming: the Federal Reserve is the creature that destroys value. This station talks about free market capitalism, and you can't have free market capitalism if you have a secret bank creating money and credit out of thin air. They become the central planners, they decide what interest rates should be, what the supply of money should be…
Question: How does the gold standard solves that?
Ron Paul: It maintains a stable currency and a stable value. If the Fed concentrated more on stable money rather than stable prices… They push up new money in stocks and in commodities and in houses, and then they have to come in to rescue the situation. They create the bubbles, then they come in and rescue it, and they do nothing more than try to do price fixing. Capitalism depends, and capital comes from savings, but there's no savings in this country, so this is all artificial. It creates the misdirection and the malinvestment and all the excessive debt, and it always has to have a correction. Since the Fed has been in existence, the dollar has lost about 97% of its value. You're supposed to encourage savings, but if something loses its value, why save dollars? There's no encouragement whatsoever. […] Gold is 6000 years old, and it still maintains its purchasing power. Oil prices really are very stable in terms of Gold. […] Both conservatives and liberals want to enhance big government, and this is a seductive way to tax the middle class.”

Ron Paul (1935) American politician and physician

CNBC debate with Faiz Shakir, March 20, 2008 http://www.youtube.com/watch?v=k94VWPjUQSM
2000s, 2006-2009

Milton Friedman photo

“The major disadvantage of the proposed negative income tax is its political implications. It establishes a system under which taxes are imposed on some to pay subsidies to others. And presumably, these others have a vote.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Source: (1962), Ch. 12 The Alleviation of Poverty, 2002 edition, p. 194

Robin Williams photo
Eric Holder photo
Peter Thiel photo
Winston S. Churchill photo

“The doc­trines that by keep­ing out for­eign goods more wealth, and con­se­quently more employ­ment, will be cre­ated at home, are either true or they are not true. We con­tend that they are not true. We con­tend that for a nation to try to tax itself into pros­per­ity is like a man stand­ing in a bucket and try­ing to lift him­self up by the han­dle.”

Winston S. Churchill (1874–1965) Prime Minister of the United Kingdom

From "Why I am a Free Trader" (1905), Churchill revised this several times, the earliest recorded version coming from the speech "For Free Trade" at the Free Trade Hall, Manchester, 19 Feb­ru­ary 1904:
It is the the­ory of the Pro­tec­tion­ist that imports are an evil. He thinks that if you shut out the for­eign imported man­u­fac­tured goods you will make these goods your­selves, in addi­tion to the goods which you make now, includ­ing those goods which we make to exchange for the for­eign goods that come in. If a man can believe that he can believe any­thing. (Laugh­ter.) We Free-traders say it is not true. To think you can make a man richer by putting on a tax is like a man think­ing that he can stand in a bucket and lift him­self up by the han­dle. (Laugh­ter and cheers.)
Early career years (1898–1929)
Source: [Churchill, Winston, Stead, W.T., Coming Men on Coming Questions, 13 April 1905, Chapter 1: Why I am a Free Trader, https://archive.org/details/comingmenoncomin00stea]
Source: [Churchill, Winston, Rhodes James, Robert, Winston S. Churchill: His Complete Speeches 1897-1963, Chelsea House Publishers / R.R. Bowker Company, 1974, 0835206939]

Enoch Powell photo

“…the power to control the supply of money, which is one of the fundamental aspects of sovereignty, has passed from government into other hands; and therefore new institutions must be set up which will in effect exercise some of the major functions of government. They would set the level of public expenditure, and settle fiscal policy, the exercise of taxing and borrowing powers of the state, since these are indisputedly the mechanism by which the money supply is determined. But they would do more than this. They would be supreme over the economic ends and the social structure of society: for by fixing prices and incomes they would have to replace the entire automatic system of the market and supply and demand—be that good or evil—and put in its place a series of value judgments, economic or social, which they themselves would have to make…There is a specific term for this sort of polity. It is, of course, totalitarian, because it must deliberately and consciously determine the totality of the actions and activities of the members of the community; but it is a particular kind of totalitarian regime, one, namely, in which authority is exercised and the decisions are taken by a hierarchy of unions or corporations—to which, indeed, on this theory the effective power has already passed. For this particular kind of totalitarianism the Twentieth Century has a name. That name is "fascist."”

Enoch Powell (1912–1998) British politician

Speech in Leamington (18 September 1972), quoted in The Times (19 September 1972), p. 12
1970s

Emo Philips photo
Michele Bachmann photo
Michael Hudson (economist) photo
Václav Smil photo

“Apple! Boy, what a story. No taxes paid, everything made abroad — yet everyone worships them. This new iPhone, there's nothing new in it. Just a golden color. What the hell, right? When people start playing with color, you know they're played out.”

Václav Smil (1943) Canadian geographer

This Is the Man Bill Gates Thinks You Absolutely Should Be Reading http://wired.com/2013/11/vaclav-smil-wired/all/1 in Wired (25 November 2013)

Margaret Thatcher photo
Joe the Plumber photo

“I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year. Your new tax plan's going to tax me more, isn't it?”

Joe the Plumber (1973) American conservative activist and commentator

A question presented to US Senator and Presidential candidate Barack Obama as he campaigned in Wurzelbacher's neighborhood. (12 October 2008) Obama responded in part:
My attitude is that if the economy’s good for folks from the bottom up, it’s gonna be good for everybody. If you’ve got a plumbing business, you’re gonna be better off [...] if you’ve got a whole bunch of customers who can afford to hire you, and right now everybody’s so pinched that business is bad for everybody and I think when you spread the wealth around, it’s good for everybody. - (Full, unedited video of the conversation between Wurzelbacher and Obama) http://www.liveleak.com/view?i=1a4_1224166209
This response became a major focus of the presidential campaign of John McCain during the third and final presidential debates between him and Obama, on 15 October 2008, and in later campaign ads which compared Obama's comments on his tax plan to an embrace of socialism.

Mary Matalin photo
Donald J. Trump photo
Tony Abbott photo

“There is one fundamental message that we want to go out from this place to every nook and cranny of our country: There should be no new tax collection without an election.”

Tony Abbott (1957) Australian politician

Quoted in "Fact file: What Tony Abbott promised on tax" http://www.abc.net.au/news/2014-05-01/fact-file-what-tony-abbott-promised-on-tax/5420226 ABC News, July 23, 2014.
2011

Hillary Clinton photo
David D. Friedman photo
Ben Bernanke photo

“To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.”

Ben Bernanke (1953) American economist

Speech given on Apr. 7, 2010 to the Dallas Regional Chamber of Commerce, "Economic Challenges: Past, Present and Future" http://www.federalreserve.gov/newsevents/speech/bernanke20100407a.pdf. (See pages 13-14 of the speech transcript).

John Stuart Mill photo
John Gray photo
Thomas Frank photo
Gary Johnson photo

“I'm not getting elected dictator or king. But if I could wave a magic wand, I would eliminate income tax. I would eliminate corporate tax. And I would replace it with one federal consumption tax.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

2016, Interview with CNBC's John Harwood (August 22, 2016)

Bill Maher photo
George W. Bush photo

“Americans are sacrificing. I mean, we are. You know, we pay a lot of taxes. Americans sacrificed when they, you know, when the economy went into the tank. Americans sacrificed when, you know, air travel was disrupted. American taxpayers have paid a lot to help this nation recover. I think Americans have sacrificed.”

George W. Bush (1946) 43rd President of the United States

In response to reporter Brian Williams' question as to whether, after 9/11, the president should have asked all Americans to sacrifice for their country, NBC News interview, August 29, 2006 http://www.youtube.com/watch?v=SNIOmbm3KYg&feature=related
2000s, 2006

Michał Kalecki photo

“In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

Norman Tebbit photo

“[The poll tax] was a classic case of a good idea being entrusted to Chris Patten and becoming a terrible failure.”

Norman Tebbit (1931) English politician

On the BBC (16 November, 2000). http://news.bbc.co.uk/olmedia/1025000/audio/_1026366_tebbit.ram

Joseph Chamberlain photo

“Lord Goschen tells you that France only takes 2 per cent. of its corn from abroad, that it is self-sufficient, and that Germany only takes 30 per cent., whereas, he says, we take four-fifths. That is not a comforting reflection…it is not a comforting reflection to think that we, a part of the British Empire that might be self-sufficient and self-contained, are, nevertheless, dependent, according to Lord Goschen, for four-fifths of our supplies upon foreign countries, any one of which, by shutting their doors upon us, might reduce us to a state of almost absolute starvation. … the working man has to fear the result of a shortage of supplies and of a consequent monopoly. If in time of war one of the great countries, Russia, Germany, France, or the United States of America, were to cut off its supply, it would infallibly raise the price according to the quantity which we received from that country. If there were no war, if in times of peace these countries wanted their corn for themselves, which they will do, or if there were bad harvests, which there may be in either of these cases, you will find the price of corn rising many times higher than any tax I have ever suggested. And there is only one remedy for it. There is only one remedy for a short supply. It is to increase your sources of supply. You must call in the new world, the Colonies, to redress the balance of the old. Call in the Colonies, and they will answer to your call with very little stimulus or encouragement. They will give you a supply which will be never failing and all sufficient.”

Joseph Chamberlain (1836–1914) British businessman, politician, and statesman

Speech in Newcastle (20 October 1903), quoted in The Times (21 October 1903), p. 10.
1900s

Antonin Scalia photo
Friedrich Hayek photo

“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

Thomas Jefferson photo
Kristi Noem photo

“We need to simplify our tax code. We need to make sure that it’s not too cumbersome for people to be able to comply with. And that they don’t end up spending more money trying to file their taxes than they do actually paying in.”

Kristi Noem (1971) South Dakota politician

Woster, Kevin. Noem ad: poignant or political? http://www.rapidcityjournal.com/news/opinion/columnists/local/article_af98dacc-5a2f-11df-96dc-001cc4c002e0.html Rapid City Journal. May 9, 2010.

Edwin Abbott Abbott photo
David Foster Wallace photo
Uthradom Thirunal Marthanda Varma photo
Bill Richardson photo

“Make no mistake, the point of cutting the personal income tax and the capital gains cut is to send an unmistakable message to business.”

Bill Richardson (1947) politician and governor from the United States

upon passage of supply side tax cuts
[Phil, Magers, http://www.upi.com/archive/view.php?archive=1&StoryID=20030219-071745-7704r, "New Mexico cuts taxes to stimulate economy", United Press International, 2003-02-19, 2006-08-21]

Samuel Johnson photo
Calvin Coolidge photo
Calvin Coolidge photo

“Undoubtedly one of the most important provisions in the preparation for national defense is a proper and sound selective service act. Such a law ought to give authority for a very broad mobilization of all the resources of the country, both persons and materials. I can see some difficulties in the application of the principle, for it is the payment of a higher price that stimulates an increased production, but whenever it can be done without economic dislocation such limits ought to be established in time of war as would prevent so far as possible all kinds of profiteering. There is little defense which can be made of a system which puts some men in the ranks on very small pay and leaves others undisturbed to reap very large profits. Even the income tax, which recaptured for the benefit of the National Treasury alone about 75 per cent of such profits, while local governments took part of the remainder, is not a complete answer. The laying of taxes is, of course, in itself a conscription of whatever is necessary of the wealth of the country for national defense, but taxation does not meet the full requirements of the situation. In the advent of war, power should be lodged somewhere for the stabilization of prices as far as that might be possible in justice to the country and its defenders.”

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

1920s, Toleration and Liberalism (1925)