The collection of any taxes which are not absolutely required, which do not beyond reasonable doubt contribute to the public welfare, is only a species of legalized larceny. Under this republic the rewards of industry belong to those who earn them. The only constitutional tax is the tax which ministers to public necessity. (Inaugural Address 1925).
UPDATE One more:
Wealth is the product of industry, ambition, character and untiring effort. In all experience, the accumulation of wealth means the multiplication of schools, the increase of knowledge, the dissemination of intelligence, the encouragement of science, the broadening of outlook, the expansion of liberties, the widening of culture. Of course, the accumulation of wealth can not be justified as the chief end of existence (American Society of Newspaper Editors 1925).
2 comments:
Come on, you can't leave out the sentence right after that: "But we are compelled to recognize it (wealth) as a means to well nigh every desirable achievement."
What does "well nigh" mean? Yes, capitalism is better to the people than totalitarian communism or socialism, but this is still encouraging greed, which is not real great for society.
A fine question sir.
Greed is a basic moral vice and not particular to capitalism. People are greedy no matter what economic system there is. I think true Capitalism punishes greed. For instance, it is the essence of greed to not pay your workers anything and keep all proceeds of your business. But in a capitalist economy, that wouldn't work for very long. Or any get rich quick scheme never fulfills what it promises, because values like thrift, patience and gratefulness are thrown out the window in the scramble to riches.
I agree that encouraging greed is no good for society. Greed is the desire for excessive wealth, not just the desire or action of acquiring money. I don't think someone is evil just because they receive a paycheck. Money is just a part of this world. In capitalism, skilled people are rewarded for providing goods or services others want/need based on their individual desires. Greed being a part of the exchange is an individual's ethical choice, not a symptom of capitalism.
What do you think?
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