SeriousBull

Parallels in time…How Will Rogers saw it in the 20’s

Tags: Bush + Economy + elections + investing + obama + subprime + Taxes + Treasury

“You buy lots in Los Angeles with the same frequency you would newspapers in other towns. After buying it, you put it back in the hands of the agents again, for don’t think you are going to get away with that lot. It has to be sold three or four times that day.
Why, every lot out here has its own agent. Agents get rich out here just off the various commissions on one lot. If an agent handles two lots he opens up a branch office and has an assistant.” 1923

“It’s the greatest game I ever saw. You can’t lose. Everybody buys to sell and nobody buys to keep. What’s worrying me is who is going to be the last owner. It’s just like an auction; the only one stuck is the last one.” 1923

“We owe more money than any Nation in the World, and we are LOWERING TAXES. When is the time to pay off a debt if it is not when you are doing well? You let a Politician return home from Washington and announce, ‘Boys we lowered your taxes. We had to borrow the money to do it, but we did it.’ Say, they would elect him for life.” WA #161, Jan. 10, 1926

“There is a tremendous movement on to get lower taxes on earned incomes. Then will come the real problem, ‘Who among us on salary are earning our income?’” DT #1051, Dec. 8, 1929

“The small town is passing. It was the incubator that hatched all our big men (meaning leaders), and that’s why we haven’t got as many big men today as we used to have. Take every small-town-raised (leader) out of business and you would have nobody left running it but vice-presidents.” DT #1162, April 16, 1930

“Get a sales tax, small on necessities and large on luxuries; then a stiff inheritance tax on the fellow that saves and don’t spend. That will get him either way. A tax paid on the day you buy is not as tough as asking you for it the next year when you are broke.” DT #1599, Sept. 7, 1931

“The whole trouble with the Republicans is their fear of an increase in income tax, especially on higher incomes. They speak of it almost like a national calamity. I really believe if it come to a vote whether to go to war with England, France and Germany combined, or raise the rate on incomes of over $100,000, they would vote war.” DT #1435, Feb. 27, 1931

 I do honestly believe the Republicans have reformed and want to do better. But whether they have done it in time to win the election is another thing. The old voter is getting so he wants to be saved before October every election year.” DT #1917, Sept. 26, 1932

“The crime of taxation is not in the taking it, it’s in the way that it’s spent.” DT #1764, March 20, 1932

So cheer up. Let’s all be friends again. One of the evils of democracy is you have to put up with the man you elect whether you want him or not. That’s why we call it democracy.” DT #1953, Nov. 7, 1932

“Our financial ills will never be settled till you fix it so every man will pay an income tax on what he earns, be it a farm, grocery store or municipal or government bonds.” DT #2068 March 21, 1933

“Finding things to tax is becoming quite a problem. You see when taxes first started, (who started ‘em anyhow?) Noah must have taken into the ark two taxes, one male and one female, and did they multiply bountifully! Next to guinea pigs, taxes must have been the most prolific of animals. WA #594, May 13, 1934

“The high income tax come pretty near passing in the Senate. Only lacked about six votes. So it won’t be long now. Well, there is millions and millions that are not making it, that would be glad to give up 99 per cent if you would let ‘em earn a hundred thousand or more.” DT #2395, April 6, 1934

“There is nothing as easy as denouncing….. It don’t take much to see that something is wrong, but it does take some eyesight to see what will put it right again.” WA #657, July 28, 1935

             Source: Will Rogers today at http://www.willrogerstoday.com/index.cfm

June 7, 2008 - Economy, Politics