On the record
To maintain a great surplus by heavy taxes to pay off debt has never yet in this country been possible, and to maintain a surplus of the American magnitude would be plainly impossible.
Said by
Walter Bagehot
Source
gutenberg.orgWalter Bagehot: “To maintain a great surplus by heavy taxes to pay off debt has never yet in this country been possible, and to maintain…”
Editor's note · Context
Bagehot argues that maintaining a large surplus through heavy taxation has historically been unfeasible in England.
Share
More from Walter Bagehot
In early society, originality in life was forbidden and repressed by the fixed rule of life.
They are above corruption because they are the corruptors.
But the Jewish advantage never did so; beginning in religion, contrary to a thousand analogies, it remained religious.
And again, in political matters, how quickly a leading statesman can change the tone of the community!
Other voices in this conversation
