On the record
Tax-exempt securities are drying up the sources of Federal taxation and they are encouraging unproductive and extravagant expenditures by States and municipalities.
Said by
Warren G. Harding
Source
gutenberg.orgWarren G. Harding: “Tax-exempt securities are drying up the sources of Federal taxation and they are encouraging unproductive and…”
Editor's note · Context
Harding warns that tax-exempt securities are undermining federal revenue and promoting wasteful spending at state and local levels.
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