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Teddy Roosevelt on Taxing the Rich

John Fea   |  October 22, 2008 Leave a Comment

Over at Spiritual Politics, Mark Silk quotes this passage from Teddy Roosevelt’s 1910 New Nationalism speech.

No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar’s worth of service rendered–not gambling in stocks, but service rendered. The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective–a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.

John McCain’s hero sounds more like Obama here.

ADDENDUM: Check out Timothy Noah’s piece in Slate. McCain may need to find a new hero.

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Filed Under: Way of Improvement Tagged With: 2008 election

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