“I believe that there should be a very much heavier progressive tax on very large incomes, a tax which should increase in a very marked fashion for the gigantic incomes.”
— President Theodore Roosevelt (R)
PASSIVE INCOME SHOULD BE TAXED TWICE AS MUCH AS HARD LABOR!
“Inasmuch as most good things are produced by labor, it follows that all such things of right belong to those whose labor has produced them. But it has so happened, in all ages of the world, that some have labored, and others have without labor enjoyed a large proportion of the fruits. This is wrong, and should not continue. To secure to each laborer the whole product of his labor, or as nearly as possible, is a worthy object of any good government.”
— President Lincoln (R) From his notes about tariff policy, scribbled down on December 1, 1847.
“LABOR is prior to and independent of capital. Capital is only the fruit of labor, and could never have existed if LABOR had not first existed. LABOR is the superior of capital, and deserves much the higher consideration. Capital has its rights, which are as worthy of protection as any other rights. Nor is it denied that there is, and probably always will be, a relation between LABOR and capital producing mutual benefits.”
— President Lincoln (R) – 1861 State of the Union address, decrying efforts to place capital on an equal FOOTING WITH LABOR in government.
ADAM SMITH, FATHER OF CAPITALISM, SAID TAX THE RICH:
“..tax (should) fall heaviest upon the rich; and in this sort of inequality there would not, perhaps, be anything very unreasonable. It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.”
— Adam Smith, in The Wealth of Nations
Adam Smith, considered the Godfather of Capitalism, was for progressive taxation.
President Jefferson SAID TO TAX THE RICH – Like the 1st INCOME TAX in 1913 when only those EARNING $1.33+ MILLION PAID INCOME TAXES – EISENHOWER (R) with 91% TOP TAX RATE HE REFUSED TO REMOVE!
“Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometric progression as they rise.”
— President Thomas Jefferson
EXAMPLE JEFFERSON geometric progression BRACKETS:
Progressive BRACKETS: 1%, 2%, 4%, 8%, 16%, 32%, 64%
EISENHOWER USED 91% TAX RATE TO STOP MASSIVE FRAUD BY CRIMINALS!