On the record
It means an increase in the burden of taxation, dissipation of the returns from enterprise, a decrease in the real value of wages, with ultimate stagnation and decay.
Source
gutenberg.orgCalvin Coolidge: “It means an increase in the burden of taxation, dissipation of the returns from enterprise, a decrease in the real value…”
Editor's note · Context
In this statement, Coolidge outlines the negative consequences of government overspending on the economy and individual prosperity.
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