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Quote by Andrew Mellon

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Andrew Mellon
Andrew Mellon

Andrew Mellon was the former United States Secretary of the Treasury, born on March 24, 1855, and died on August 26, 1937. He had a profound impact on the financial and business sectors, serving as the chairman of several companies. more

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“Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.”

PeopleRealValuesOrderMoralSocietyHard WorkMoralityCostPicksLaborHarderValuableLive LifeExpensesFarmersEstatesFarmingCompetenceRottenAdjustmentCompetentWork HarderCost Of LivingPurgingMoral LifeEnterprisingSystemic Change
Author:Andrew Mellon
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“The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.”

PeopleShowsGovernmentWealthResultsFailingShareSecuritySourceTaxesPaidPressureMethodRateProfitBurdenIncomeRealizationProductiveYieldAvoidingTaxationRevenueTaxpayersTax Burden
Author:Andrew Mellon
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