Comments by "Steve Watson" (@stevewatson6839) on "TIKhistory"
channel.
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Mellon was Treasury Secretary.
"The
problem of the government is to fix rates which will bring in a maximum
amount of revenue to the Treasury and at the same time bear not too
heavily on the taxpayer or on business enterprises. A sound tax policy
must take into consideration three factors. It must produce sufficient
revenue for the government; it must lessen, so far as possible, the
burden of taxation on those least able to bear it; and it must also
remove those influences which might retard the continued steady
development of business and industry on which, in the last analysis, so
much of our prosperity depends. Furthermore, a permanent tax system
should be designed, not merely for one or two years nor for the effect
it may have on any given class of taxpayers but should be worked out
with regard to conditions over a long period and with a view to its
ultimate effect on the prosperity of the country as a whole. These are
the principles on which the Treasury's tax policy is based, and any
revision of taxes which ignores these fundamental principles will prove
merely a makeshift and must eventually be replaced by a system based on
economic rather than political considerations."
"I have never viewed taxation as a means of rewarding one class of
taxpayers or punishing another. If such a point of view ever controls
our public policy, the traditions of freedom, justice and equality of
opportunity, which are the distinguishing characteristics of our
American civilization, will have disappeared and in their place we shall
have class legislation with all of its attendant evils. The man who
seeks to perpetuate prejudice and class hatred is doing America an ill
service."
Read him. Greider writes for "Rolling Stone"; don't read him.
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