2021-10-19

Taxation - The Peoples Business

Andrew Mellon was named Secretary of the Treasury in 1921 under President Warren Harding. He would remain in that position for the next 11 years, serving under Presidents Harding, (Calvin) Coolidge and Herbert Hoover. In his position, he would fight for lower taxes while still being able to pay off part of the national debt.Written in 1924, Taxation - The People's Business is a collection of his thoughts on taxation. One rather poignant paragraph is:"The United States is no mere happy accident. What we have has been achieved by courage and hard work. The spirit of business adventure has built up in this country a civilization which offers unprecedented rewards to any man who is willing to work. But where the Government takes away an unreasonable share of his earnings, the incentive to work is no longer there and a slackening of effort is the result. To share not at all in a man's losses and to take one-half of his gains, making him work three days out of six for the Government, is to impose odds too heavy to be borne. More and more the business adventure becomes too hazardous and the high spirit of initiative disappears in discouragement. An economic system which permits wealth in existence to escape its share in the expense of the Government, and wealth in creation to be penalized until the creative spirit is destroyed, cannot be the right system for America."This IS a public domain work. Most editions you will find are unedited OCR versions that contain frequent errors, no formatting (like bold or italicized text) and/or large gaps where one page ends and the next begins. This version has been restored.Brought to you by www.poorrichardsprintshop.com


Book Details

Book Title: Taxation - The Peoples Business

Book Author: Andrew W. Mellon

Book Category: -

ISBN: B08TX2LF2T