The Notes Read Free Page A

admin. to take effective steps to balance it. If that budget had been fully & honestly balanced in 1930 as it could have been, some of the 1931 collapse would have been avoided. Even if it had been balanced in 1931 as it could have been, much of the extreme dip in 1932 would have been obviated. . . . Would it not be infinitely better to clear this whole subject of obscurity—to present the facts squarely to the Cong. and the people of the U.S. & secure the one sound foundation of permanent econ. recovery—a complete & honest balance of the Fed. Bud.?
    John F. Kennedy Re: His Tax Cut

    O ur true choice is not between tax reduction on the 1 hand & the avoidance of large Fed. deficits on the other. Our economy stifled by restrictive tax rates will never produce enough revenue to balance the budget. Just as it will never produce enough jobs or enough profits.
    Woodrow Wilson

    A merica is sauntering thru the mazes of pol.’s with easy nonchalance. But presently there will come a time when she’ll be surprised to find herself grown old—a country crowded, strained, perplexed. When she will be obligated to fall back upon her conservatism—obliged to pull herself together, adopt a new regimen of life, husband her resources, concentrate her strength, steady her methods, sober her views, restrict her vagaries, trust her best, not her average members.
    Cicero

    T he budget should be balanced, the treasury should be refilled, the pub. debt should be reduced, the arrogance of officialdom should be tempered & controlled. Assistance to foreign lands should be curtailed lest Rome become bankrupt. The mob should be forced to work & not depend on govt. for sustenance.
    F.D.R.

    T he doctrine of reg. & legis. by masterminds in whose judgment and will all the people may gladly & quietly acquiesce has been too glaringly apparent in Wash. Were it possible to find masterminds so unselfish, so willing to decide unhesitatingly against their own personal interest—such a govt. might be to the interest of the country but there are none such on the pol. horizon.
    Frederic Bastiat Addressing Nat. Assembly—France, 12/12/1849

    T he govt. offers a cure for the ills of mankind. It promises to restore commerce, make agri. prosperous, expand industry, encourage arts & letters, wipe out poverty, etc. etc. All that is needed is to create some new govt. agencies & to pay a few more bureaucrats.
    Bastiat

    W hen a nation is burdened with taxes nothing is more difficult or impossible than to levy them equally. What is still more difficult however is to shift the tax burden onto the shoulders of the rich. The state can have an abundance of money only by taking from everyone especially from the masses.

    T he state is the fictitious entity by which everyone seeks to live at the expense of everyone else.

    T he state quickly understands the use of the role the pub entrusts to it. It will be the arbiter, the master of all destinies. It will take a great deal hence a great deal will remain for itself. It will multiply the number of its agents . . . it will end by acquiring overwhelming proportions.
    Robert M. Hutchins

    T he American experiment of leaving ed. to 50 states & 40,000 school boards is drawing to a close. Fed. aid to education formally on a massive scale is inevitable & the sooner it comes the better.
    Leonard Read

    I nflation is a device for siphoning govt. property into the coffers of govt. Successful hedging would require finding a form of property that cannot be confiscated. It does not exist. Pare govt. back to size; that is the only way to protect private property against confiscation.
    Arthur Krock “Memoirs”

    A s a Wash. eyewitness of governmental and other public action through the years I formed the opinion that the U.S. merits the dubious distinction of having discarded its past & its meaning in one of the briefest spans of modern hist. Among the changes are—fiscal solvency & confidence in a stable $ driven from the national