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,