Not familiar with the man himself, on the surface it seems to be a pretty stupid question. -- Anon
And yet we still prosper with more millionaires and billionaires than ever. Apparently the income tax rate has little to do with socialism or confiscatorism. Americans prosper very well. The rich whoever they are still know how to get money from the poor whoever they are. -- Waffler, Smith
I'm with Anon, I have no knowledge of the author or what he is intending to say here. I do have knowledge concerning the, on the quote's face, concepts. A confiscatory progressive tax (larceny) on the noble laborer's fruit is one of the planks that defines socialism. Who could impose such? The immoral, the pridefully ignorant, those that equate the number of millionaires and billionaires to freedom and liberty, theologist control freaks, thieves, liars, slave masters, etc. could and do impose such. -- Mike, Norwalk
The answer is simple, our government. -- jim k, jim k
From Wikipedia: “A fear expressed by a number of opponents was that the proposed law, with its low rates was the camel's nose under the tent that once a tax on incomes was enacted, rates would tend to rise. Sen. William E. Borah of Idaho was outraged by such anxieties, and derided a suggestion that the rate might eventually climb as high as 20 percent. Who, he asked, could impose such socialistic, confiscatory rates? Only Congress. And how could Congress, the Representatives of the American People, be so lacking in fairness, justice and patriotism?” -- Wall Street Journal, October 5, 1973. Page 8 at columns 4-6. ---Wikipedia article on Wm E Borah. -- Paul, Gig Harbor, WA
Waffler, I "prosper" when I spend my income AND beyond, on credit cards. I suffer when the bill comes due, as it is now. We keep printing fiat money, keep spending more than we have, which brings happy times, but the bill is now in our mailbox. Is this what you call prosperity? I call it suicide. -- Paul, Gig Harbor, WA
Yeah Waffler, the human race started when you were born and will end when you die. Why think long-term?! -- Tony D., Toronto, Ontario
Yes Tony D we need to think long term. And that means to me we must be honest and honorable people right now and pay our debts. We send our youth to the Middle East to die but we did not have the courage to pay for it. We have incurred debt for 20 or more of the last 28 years. It is time we STAND up like adults and demand that the debts be paid and then the taxes cut. Short term views on finance and the environment have all caused us problems. -- Waffler, Smith
