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WIST Quotations

A quotation from Teddy Roosevelt

No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar’s worth of service rendered — not gambling in stocks, but service rendered. The really big fortune, the swollen 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. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective — a graduated inheritance tax on big fortunes, properly safeguarded against evasion and increasing rapidly in amount with the size of the estate.

Theodore Roosevelt (1858-1919) American politician, statesman, conservationist, writer, US President (1901-1909)
Speech (1910-08-31), “The New Nationalism,” John Brown Memorial Park dedication, Osawatomie, Kansas

Sourcing, notes: wist.info/roosevelt-theodore/1…

#quote#quotes#quotation
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Joseph Lim :mastodon:

#US #fiscal state is everyone's issue
"US #debt now stands at $36tril, or 124% of GDP.. #America is no longer part of the elite group of ultra-safe #borrowers: countries like Germany, Switzerland & Singapore.. In 2024, #interest payments reached $881bil, making them one of the largest components of US #federalbudget, even surpassing #spending on #defence & #Medicare..🤦‍♂️ #Trump & congressional #Republicans cld unleash widespread #financial #instability"
🤔
Do the perps care?
bangkokpost.com/opinion/opinio

https://www.bangkokpost.comUS fiscal state is everyone's issueAs Donald Trump's "big, beautiful" tax bill heads to the US Senate, investors everywhere are growing increasingly uneasy. On May 16, the credit-rating agency Moody's downgraded US sovereign debt from its long-held triple-A status to Aa1 -- following similar decisions by Standard & Poor's (in 2011) and Fitch Ratings (2023). Given the sheer volume of US debt -- which now stands at $36 trillion, or 124% of GDP -- and rising interest costs, these institutions have concluded that US debt metrics are no longer in line with those of similarly rated sovereigns.
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