The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business. Andrew Mellon More Quotes by Andrew Mellon More Quotes From Andrew Mellon Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people. Andrew Mellon live-life hard-work real There is no cause to worry. The high tide of prosperity will continue. Andrew Mellon tides worry depression Prosperity of the middling and lower orders depends upon the fortunes and light taxes of the rich. Andrew Mellon prosperity light order Any man of energy and initiative can get what he wants out of life. But when initiative is crippled by legislation or by a tax system which denies him the right to receive a reasonable share of his earnings, then he will no longer exert himself and the country will be deprived of the energy on which its continued greatness depends. Andrew Mellon greatness men country The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people. Andrew Mellon yield government people If the spirit of business adventure is dulled, this country will cease to hold the foremost position in the world. Andrew Mellon business adventure country Give tax breaks to large corporations, so that money can trickle down to the general public, in the form of extra jobs. Andrew Mellon corporations jobs giving I see nothing in the present situation that is either menacing or warrants pessimism. Andrew Mellon pessimism situation depression Every man wants to connect his life with something he thinks eternal. Andrew Mellon want men thinking A nation is not in danger of financial disaster merely because it owes itself money. Andrew Mellon financial money business Strong men have sound ideas and the force to make these ideas effective. Andrew Mellon strong men ideas A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues. Andrew Mellon common-sense reform ideas Gentlemen prefer bonds. Andrew Mellon preference gentleman ties Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. Andrew Mellon estates farmers real Values will be adjusted, and enterprising people will pick up the wrecks from less competent people. Andrew Mellon competent wrecks people I see nothing in the present situation that is either menacing or warrants pessimism... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress. Andrew Mellon spring depression country The Government's business is in sound condition. Andrew Mellon great-depression government sound
