Vladimir Lenin: Taxation & Inflation

Meaning of Vladimir Lenin Money Quote: saying those considered part of the bourgeoisie can be ground between the financial costs of taxes and inflation. Vladimir Lenin said:
 
 

 

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation” — Vladimir Lenin

Vladimir Lenin is outlining a strategy for weakening the bourgeoisie, or capitalist class. He argues that subjecting the bourgeoisie to heavy taxation while also generating high inflation will place them under intense financial pressure.

Lenin is suggesting the upper/ruling classes can be weakened and their power reduced by “grinding” them between these “millstones” of high taxes cutting into profits on one side, and inflation eroding the value of their remaining funds on the other.

The quote conveys Lenin’s belief that these economic tactics of taxation and currency devaluation can help destroy the dominance of the capitalist class and pave the way for communist rule.

Birthday: April 22, 1870 – Death: January 21, 1924

Alexander Hamilton: National Debt

Meaning of Alexander Hamilton Money Quote: saying A national debt is a positive thing if not too large and will encourage businesses. Alexander Hamilton said:

 

 

“A national debt if it is not excessive will be to us a national blessing; it will be powerfull cement of our union. It will also create a necessity for keeping up taxation to a degree which without being oppressive, will be a spur to industry” — Alexander Hamilton

This quote from Alexander Hamilton suggests that a moderate level of national debt can have benefits for a country. Some key points in interpreting his perspective:

• Hamilton implies a modest debt supports unity and common purpose among states by creating shared financial interests across regions.
• He portrays a modest debt as a stimulus for industry by maintaining a degree of taxation that encourages productivity without being overly burdensome.
• Hamilton acknowledges the need for “keeping up taxation” to service debt obligations but argues this can promote economic activity rather than hinder it if set reasonably.
• However, reasonable experts debate the long-term impacts of debt on economic growth, and too high a debt burden poses real risks if mismanaged over several generations.

Overall, while Hamilton saw national debt as potentially advantageous if not excessive, the best interpretation considers this as one perspective in ongoing discussions around balancing fiscal responsibility with strategic investment over decades as economic conditions change. The quote reflects Hamilton’s viewpoint, but the complex realities of public finance involve weighing multiple factors in evidence-based debates.

Birthday: January 11, 1755 – Death: July 12, 1804

Frederic Clemson Howe: War Costs

Frederic Clemson Howe Money Quote saying that if the wealthy classes had to pay for wars they start, the war would never begin – it is paid by the working class and poor. Frederic Clemson Howe said:
 

 

“There would be an end of war and preparations for war if the cost were borne by those responsible for war. There would be an end of armaments and preparedness if incomes and inheritances and the landed estates of the feudal classes paid for the protection which their privileges enjoy. War and preparations for war are possible only because the ruling classes are able to shift a great part of the cost onto the poor by indirect taxation and loans. War expenditures are tolerated only because the burdens are concealed in the increased cost of the things people consume” — Frederic Clemson Howe

In this quote, Frederic Clemson Howe is arguing that wars and military buildup are primarily possible due to the ruling/wealthy classes being able to pass much of the financial costs onto the poor through taxes and loans rather than bearing the costs themselves.

He suggests that if those truly responsible for decisions leading to conflict had to directly pay for defense spending through their own incomes, estates, etc., there would be an end to warfare and arms races. Howe also claims war expenditures are tolerated because the fiscal burdens are obscured and hidden through inflation of consumer goods prices rather than obvious direct taxation.

The best interpretation is that Howe is criticizing how the costs of militarism have historically been disproportionately shouldered by the less wealthy through indirect means, allowing conflicts and preparedness to continue when the elite classes do not have sufficient skin in the game financially.

Birthday: November 21, 1867 – Death: August 3, 1940

Milton Friedman: Inflation Taxation

Milton Friedman Money Quote saying inflation is the only government gain without needing to legislate it. Milton Friedman said:
 

 

“Inflation is taxation without legislation” — Milton Friedman

Milton Friedman is suggesting that inflation has the effect of functioning as a hidden or indirect tax. When inflation raises prices overall in an economy, the value of money held by individuals and businesses decreases over time.

Even though taxes have not been raised through the legislative process, people experience higher costs of living and the real value of their money being taxed away through inflation.

So Friedman’s point is that inflation erodes purchasing power and acts as a tax on the value of money in one’s possession, even if it was not approved through the traditional tax legislation process.

In this view, inflation transfers wealth from citizens to the government in a way that is hard to see but still burdens people financially.

Birthday: July 31, 1912 Death: November 16, 2006

Joseph Stiglitz: Americans Taxation Burden

Joseph Stiglitz Money Quote saying working americans are bearing the larger burden of taxes that corporations should be sharing. Joseph Stiglitz said:
 

 

“Their lobby helped create this law that allows them to escape taxes, pushing the burden of taxation on ordinary Americans” — Joseph Stiglitz

The best interpretation of the quote by Joseph E. Stiglitz is that he is criticizing the practice of lobbying by wealthy individuals and corporations to create laws that benefit themselves at the expense of ordinary Americans.

He suggests that these efforts to influence government policy have resulted in a tax system that unfairly burdens the general population while allowing the wealthy to avoid paying their fair share.

Edward Abbey: Taxation How Sheep Shorn

Edward Abbey Money Quote saying suggesting that there are also wolves among the citizens taxed. Edward Abbey said:
 

 

“Taxation: how the sheep are shorn” — Edward Abbey

In this quote, Edward Abbey is drawing a comparison between taxation and sheep being shorn or having their wool cut off. When he states that taxation is “how the sheep are shorn”, Abbey is suggesting that many people view the act of paying taxes as the government fleecing money from citizens, much like farmers shear wool off sheep.

His metaphor portrays taxpayers as feeling like they are being stripped of their earnings for the benefit of others. The quote conveys Abbey’s perspective that some resent taxation as an involuntary loss of wealth to the governing body, just as sheep have no choice in losing their wool each shearing season.

Overall, he characterizes paying taxes as being financially shorn or having money taken without consent.

Birthday: January 29, 1927 – Death: March 14, 1989

Hugo Black: Taxation by Confession

Hugo Black Money Quote saying we are expected to admit those taxes we owe when filing. Hugo Black said:
 

 

“The United States has a system of taxation by confession” — Hugo Black

This quote from Supreme Court Justice Hugo Black is making an observation about the U.S. tax system. By referring to it as a “system of taxation by confession”, Black is suggesting that the way taxes are collected in America relies heavily on individuals self-reporting their own financial information and income amounts.

Rather than the government independently verifying every person’s earnings, taxes function through citizens openly admitting (“confessing”) what they owe in tax filings like income tax returns.

So in essence, Black’s comment recognizes that the U.S. approach to taxation depends substantially on people willingly disclosing their personal financial details, as opposed to other systems that may involve more proactive auditing and enforcement efforts by the tax authorities.

Birthday: February 27, 1886 – Death: September 25, 1971

Jean-Baptiste Colbert Plucking Tax Goose

Jean-Baptiste Colbert Money Quotation saying we are taxed at a rate that we will stand for and object more violently as rate increases. Jean-Baptiste Colbert said:
 

 

“The art of taxation consists in so plucking the goose to obtain the largest amount of feathers with the least possible amount of hissing” — Jean-Baptiste Colbert

This quote from French statesman Jean-Baptiste Colbert refers to the practice of taxation and methods for collecting revenue from citizens. The “goose” being plucked represents taxpayers, while the “feathers” symbolize the funds being collected.

Colbert’s point is that the ideal tax system maximizes the amount of money generated for the government through things like income, sales, property or other levies.

However, it does so while minimizing public complaints, protests or “hissing” about the perceived tax burden. In other words, the quote advocates for taxation approaches that are efficient at raising funds but do so in a manner that causes the least amount of disruption, dissatisfaction or unrest among those paying taxes.

Colbert aims to convey that the “art” of taxation is balancing revenue maximization with political acceptability and public contentment regarding fiscal policies.

Birthday: August 29, 1619 – Death: September 6, 1683