On the record
We have substituted for the vicious circle of increasing expenditures, increasing tax rates, and diminishing profits the charmed circle of diminishing expenditures, diminishing tax rates, and increasing profits.
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gutenberg.orgCalvin Coolidge: “We have substituted for the vicious circle of increasing expenditures, increasing tax rates, and diminishing profits the…”
Editor's note · Context
Coolidge describes a positive economic cycle that benefits taxpayers and increases profits.
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