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When I came to Washington in 1932, corporation profits were nonexistent. They had a loss that year of $3,400 million. In 1942, 10 years later, we got… - Lyndon B. Johnson
" "When I came to Washington in 1932, corporation profits were nonexistent. They had a loss that year of $3,400 million. In 1942, 10 years later, we got it up to $9½ billion. In 1952, 10 years later, we got it up to $17.2 billion. In 1962 we got it up to $24.6 billion. In 1963 we got it up to $27.1 billion, and the Chairman of the Council of Economic Advisers tells me we are not only not going to lose $3,400 million this year, as we did 32 years ago when I came here, but our profits this year are going to be $31 billion after taxes--these high taxes. Labor has gotten about $52 billion more in wages than they got in 1961 Their wages have increased $51 billion or $52 billion in 3 years. Corporation profits have increased from a $3.4 billion loss in 1932 to $31 billion after taxes. Now, those groups--the capitalists who make the investments, the managers who manage it, and the workers who produce it-have got to be concerned about these taxeaters. There is an increasing proof that we can at long last break this unemployment stalemate that has marked our economic life month in and month out for several years.
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About Lyndon B. Johnson
Lyndon Baines Johnson (27 August 1908 – 22 January 1973), often referred to by his initials LBJ, was an American politician. After a long career in U.S. legislatures, Johnson became the vice president of the United States of America under John F. Kennedy, from 1961 to 1963. A Democrat, Johnson became the 36th U.S. president in 1963, after Kennedy's assassination. He served in the role until 1969.
Also Known As
Native Name:
Lyndon Baines Johnson
Also Known As:
LBJ
Alternative Names:
Lyndon Johnson
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President Johnson
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L. B. Johnson
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Additional quotes by Lyndon B. Johnson
Your imagination, your initiative, and your indignation will determine whether we build a society where progress is the servant of our needs, or a society where old values and new visions are buried under unbridled growth. For in your time we have the opportunity to move not only toward the rich society and the powerful society, but upward to the Great Society. The Great Society rests on abundance and liberty for all. It demands an end to poverty and racial injustice, to which we are totally committed in our time. But that is just the beginning.
The third article was union. [...] By working shoulder to shoulder, together we can increase the bounty of all. We have discovered that every child who learns, every man who finds work, every sick body that is made whole—like a candle added to an altar—brightens the hope of all the faithful. So let us reject any among us who seek to reopen old wounds and to rekindle old hatreds. They stand in the way of a seeking nation. Let us now join reason to faith and action to experience, to transform our unity of interest into a unity of purpose. For the hour and the day and the time are here to achieve progress without strife, to achieve change without hatred—not without difference of opinion, but without the deep and abiding divisions which scar the union for generations.
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What we won when all of our people united just must not now be lost in suspicion, distrust, selfishness, and politics among any of our people. Believing this as I do, I have concluded that I should not permit the Presidency to become involved in the partisan divisions that are developing in this political year. With America's sons in the fields far away, with America's future under challenge right here at home, with our hopes and the world's hopes for peace in the balance every day, I do not believe that I should devote an hour or a day of my time to any personal partisan causes or to any duties other than the awesome duties of this office — the Presidency of your country. Accordingly, I shall not seek, and I will not accept, the nomination of my party for another term as your President.
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