Andrew Mellon Quotes | Quotes by Andrew Mellon

1Liquidate 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.

2The 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.

3The 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.

4Gentlemen prefer bonds.

5Prosperity of the middling and lower orders depends upon the fortunes and light taxes of the rich.

6I see nothing in the present situation that is either menacing or warrants pessimism... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.

7Any man of energy and initiative can get what he wants out of life. But when initiative is crippled by legislation or by a tax system which denies him the right to receive a reasonable share of his earnings, then he will no longer exert himself and the country will be deprived of the energy on which its continued greatness depends.

8I see nothing in the present situation that is either menacing or warrants pessimism.

9There is no cause to worry. The high tide of prosperity will continue.

10A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues.

Andrew Mellon Quotes

11Values will be adjusted, and enterprising people will pick up the wrecks from less competent people.

12If the spirit of business adventure is dulled, this country will cease to hold the foremost position in the world.

13A nation is not in danger of financial disaster merely because it owes itself money.

14Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.

15The Government's business is in sound condition.

16Every man wants to connect his life with something he thinks eternal.

17Give tax breaks to large corporations, so that money can trickle down to the general public, in the form of extra jobs.

18Strong men have sound ideas and the force to make these ideas effective.