[President Roosevelt’s endorsement of an inheritance tax gave] more encouragement to state socialism and centralization of government than all the frothy demagogues have accomplished in a quarter of a century of agitation of the muddy waters of discontent.
The Philadelphia Record denounced a 1906 speech in which Teddy Roosevelt embraced the idea of an inheritance tax. From The Great Tax Wars, p. 201.
Saturday, April 14, 1906
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