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After the Sixteenth Amendment... the federal government... enacted a regime to tax incomes, gifts and estates... with the explicit promise that the b… - David Cay Johnston
" "After the Sixteenth Amendment... the federal government... enacted a regime to tax incomes, gifts and estates... with the explicit promise that the basic means of sustaining life would not be taxed. The original tax regime applied only to the economic elite, to... "surplus" incomes. ...[I]ncome from capital was taxed more heavily ...in the belief that it was morally offensive to take more from money earned by the sweat of one's brow ...
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About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
Also Known As
Birth Name:
David Cay Boyle Johnston
Alternative Names:
DC Report
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Additional quotes by David Cay Johnston
Back in 1996 I was the principle reporter at The New York Times on a huge series... that changed the way executive pay was reported. We showed how the head of had gotten a $100 million pay one year and he only paid taxes on about $2 Million... [H]e had built a fortune of just shy of a billion dollars at that point, tax free... [T]here were members of the board of directors of Coke that did not understand how much money they had paid him.
[The] only determinant of your economic life in 18th century France was how well you picked your parents. ...The functional equivalent of what would happen if we repealed the occurred, in that all capital and all land (and this was essentially an agrarian society) were tied up. Either the Church or trusts controlled so much that there was no movement...
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