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Large fortunes are all founded either on the occupation of land, or lending or the taxation of labor.
-John Ruskin
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Large Fortunes Are All Founded Either On

John Ruskin
Large fortunes are all founded either on the occupation of land, or lending or the taxation of labor.
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Topic
Land Taxation Literature

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Labor, being itself a commodity, is measured as such by the labor time needed to produce the labor-commodity. and what is needed to produce this labor-commodity? just enough labor time to produce the objects indispensable to the constant maintenance of labor, that is, to keep the worker alive and in a condition to propagate his race. the natural price of labor is no other than the wage minimum.
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There are two issues that people sometimes confuse, but they're very closely related. there is the strength and the stability of the american financial system. and it's very important that that system remain stable and remain strong and lending is very important to consumers. secondly, the economy. and what has gone on in financial system is impacting the economy. and as the economy is turning down, it is very important that lending continue to be available and be available to consumers. so what we're doing with this facility is to support - is to support consumer lending.
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It is also true that the less possible it becomes for a man to acquire a new fortune, the more must the existing fortunes appear as privileges for which there is no justification. policy is then certain to aim at taking these fortunes out of private hands, either by the slow process of heavy taxation of inheritance or by the quicker one of outright confiscation. a system based on private property and control of the means of production presupposes that such property and control can be acquired by any successful man.
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Taxes are necessary. but the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. it is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.
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All that serves labor serves the nation. all ^ that harms labor is treason to america. no line can be drawn between these two. if any man tells you he loves america, yet hates labor, he is a liar. if any man tells you he trusts america, yet fears labor, he is a fool. there is no america without labor, and to fleece the one is to rob the other.
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