Business: HUMPHREY'S WARNING: TAXES CANT STAY HIGH

At a press conference on the 1956 budget, Treasury Secretary George Humphrey warned that high taxes can restrict freedom. Said Humphrey:

I THINK there is a very definite and distinct limit to what this country can charge its taxpayers over an extended period. I think that it gets right back into what makes a democracy tick, and into what is the difference between a free country and a slave state.

The difference between a free country and a slave state;—in my point of view—is our individual incentive system, freedom of individual choice, our freedom of...

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