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" "[T]here should be a heavily progressive National inheritance tax on big fortunes. The really big 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. A heavily progressive inheritance tax on all such fortunes (heaviest on absentees) has the good qualities of an income tax, without its drawbacks; it is far more beneficial to the community at large, and far less burdensome to private individuals, as well as far more easily collected. A moderate, but progressive, income tax, carefully devised to fall genuinely on those who ought to pay, would, I believe, he a good thing; but a heavy and heavily progressive inheritance tax on great fortunes would be a far better thing.
Theodore Roosevelt, Jr. (27 October 1858 – 6 January 1919), also known as T.R. or Teddy, was an American statesman, author, explorer, soldier, naturalist, and reformer who served as the 26th president of the United States from 1901 to 1909. As a leader of the Republican Party during this time, he became a driving force for the Progressive Era in the United States in the early 20th century.
Biography information from Wikiquote
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Of recent years... representative government all over the world has been threatened with a growing paralysis. Legislative bodies have tended more and more to become wholly inefficient for the purposes of legislation. The prime feature in causing this unhealthy growth has been the discovery by minorities that under the old rules of parliamentary procedure they could put a complete stop to all legislative action... If the minority is as powerful as the majority there is no use of having political contests at all, for there is no use in having a majority.
My own feeling in the matter is due to my very firm conviction that to put such a motto on coins, or to use it in any kindred manner, not only does not good but does positive harm, and is in effect irreverence which comes dangerously close to sacrilege. A beautiful and solemn sentence such as the one in question should be treated and uttered only with that fine reverence which necessarily implies a certain exaltation of spirit. Any use which tends to cheapen it, and, above all, any use which tends to secure its being treated in a spirit of levity, is free from every standpoint profoundly to be regretted. It is a motto which it is indeed well to have inscribed on our great national monuments, in our temples of justice, in our legislative halls, and in buildings such as those at West Point and Annapolis - in short, wherever it will tend to arouse and inspire a lofty emotion in those who look thereon. But it seems to be eminently unwise to cheapen such a motto by use on coins, just as it would be to cheapen it by use on postage stamps, or in advertisements.