It should have been obvious from experience—but wasn’t—that additional hard work, genius, creativity and risk-taking were all discouraged by high marginal tax rates.
'Free Business from Political Persecution' and 'The Country is Suffering from Too Much Law'.
No honest man can make war upon great fortunes per se. The Democratic Party never has done it; and when the Democratic Party begins to do it, it will cease to be the Democratic Party and become the socialistic party of the United States; or better expressed, the communistic party, or quasi communistic party, of the United States.
[A federal income tax would be an invitation to D.C.] to invade its territory, to oust its jurisdiction and to establish a Federal dominion [in Virginia]. A hand from Washington will be stretched out and placed upon every man’s business. The eye of the Federal inspector will be in every man’s counting house.
[The income tax would] divide the population into two classes, the class which contributes to the support of the Government, and the class which does not contribute.
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.
If once you give the power to the nation to tax all the incomes…you give them the power to tax the states, not out of their existence, but out of their vitality.
[Taxing the rich] was supported by the Socialist party, the Populist party, and by the Democratic party with a few honorable exceptions, simply as a means of re-distributing the wealth.
The fury of ignorant class hatred has dashed itself in vain against the constitution…Thanks to the court, our government is not to be dragged into communistic warfare against rights of property and the rewards of industry.
[This is] Class legislation and attempts of the majority to spoliate private property [that] would ultimately wreck the American republic.
