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Quote by James Cook

Author

James Cook
James Cook

James Cook, a renowned British explorer, was born on November 7, 1728, and died on February 14, 1779. He is best known for his three voyages of exploration, which greatly contributed to the knowledge of the Earth's geography, including the discovery of the east coast of Australia and detailed mapping of the Pacific Ocean. more

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“It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.”