Leave it to the market

Leave it to the market

Cry Wolf Quotes

An excess profits tax is not in keeping with our competitive enterprise system. It suggests that government can decide how much profits should be, which profits are excessive, and which are not excessive. If this is possible with the energy producing segment of the economy, then is it not possible with other segments of the economy? Where do we stop? What will be the shortages next year and the next, and which businesses will be subjected to government regulation and control of their profits?

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Walker Winter, of the U.S. Chamber of Commerce, Statement at the House Committee on Ways and Means.
02/05/1974 | Full Details | Law(s): Windfall Profits Tax

When a man has accumulated a sum of money within the law, that is to say, in the legally correct way, the people no longer have any right to share in the earnings resulting from the accumulation.

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John Davison Rockefeller.
07/27/1909 | Full Details | Law(s): Tax: Income

[W]e believe that voluntary progress has been sufficient to warrant a continued extension of the legislative moratorium on warranties and guarantees. We believe that business should, and will, act to implement the ‘full disclosure’ warranties statement adopted last year by the Chamber.

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A.S. Yohalem, Chamber of Commerce Presentations to Congress

[Estates] are valuable only for what they can produce. If seized by the government they can produce nothing, and if such seizures increase in amount beyond a reasonable limit they must prove not only valueless in themselves but must destroy the sources of production which otherwise would continue to finance the government and provide for the people.

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Chicago Daily Tribune.
04/04/1924 | Full Details | Law(s): Tax: Estate