Calvin Coolidge: Working Poor & Taxes

Posted by admin on Wednesday, August 4, 2010

Calvin Coolidge Money Quote suggests that the working class pays the bulk of the taxes, regardless of politicians claims that the wealthy and big corporations pay more.
 
No matter what anyone may say about making the rich and the corporations pay taxes, in the end they come out of the people who toil Quote
 

“No matter what anyone may say about making the rich and the corporations pay taxes, in the end they come out of the people who toil” — Calvin Coolidge

 

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In this quote, Calvin Coolidge is expressing skepticism about arguments for taxing wealthy individuals and large corporations at higher rates. He suggests that while politicians may frame such tax increases as targeting the rich, the true burden will ultimately be borne by ordinary working people.

Coolidge implies that higher taxes on the rich and corporations will simply be passed down to consumers and employees. Businesses may raise prices to compensate for more taxes, while also potentially cutting jobs, wages or benefits to maintain profits. Individuals with wealth may also find ways to offset personal tax increases, such as through higher interest rates on loans.

The quote conveys Coolidge’s view that in the end, it is everyday laborers and “people who toil” whose standard of living and economic well-being will be impacted, as higher taxes on others are shifted indirectly onto the public. Coolidge seems to argue that claims of taxing only the wealthy are misleading, as tax burdens have a tendency to trickle down to average citizens in more hidden ways.

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