While I do not agree 100% with what Andrew Mellon talks about in his 1924 book, Taxation: The People’s Business, I do wish more of today’s politicians would read it before they advocate for some of the economic measures they champion, such as higher corporate taxes, higher taxes on the “rich”, sales tax on medical devices, and higher minimum wages to name a few.
This quote of just one sentence comes in the context of a discussion on the effect of the high tax rates at the
It is still amazing to me that in reading a book written 90 years ago I find situations that appear essentially the same as those we face today. In Andrew Mellon’s Taxation: The People’s Business he quotes Henry Ford on the effect of high taxes on the rich.
High taxes on the rich do not take burdens off the poor. They put burdens on the poor. As far as our company is concerned, we can go on about as we now are, whether the surtax is 25% or 50%. We can make some improvements,
In reading Andrew Mellon’s 1924 book, Taxation: The People’s Business, I am pretty impressed with his general trend of thought. There are some areas where I don’t agree with him, such as on whether taxes are actually the proper way to fund government, but on the whole I like what
I find it very interesting to read the views of people from many years ago about the dangers of certain types of government action and seeing how those dangers are coming to pass now, or have already come to pass.
Ayn Rand is a great source of this type of thing and I am finding Andrew Mellon is as well. In his Taxation: The People’s Business, written in 1924, he pointed out the dangers of the government subsidizing business or giving bonuses to certain classes of consumers.
A bonus or subsidy
I am currently reading Objective Communication, which is based on a lecture series by Dr. Leonard Peikoff about learning to think and communicate clearly. It is quite dense in many ways so I am breaking it up with other books. Among those other books, I just started in on