American law Quote by Ludwig von Mises
“If the present American laws concerning the taxation of the profits of corporations, the incomes of individuals, and inheritances had been introduced about 60 years ago, all those new products whose consumption has raised the standard of living of the 'common man' would either not be produced at all or only in small quantities for the benefit of a minority. The Ford enterprises would not exist if Henry Ford's profits had been taxed away as soon as they came into being.”
About This Quote
Source Book: Human Action, Ludwig von Mises, 1949
Mises argues that heavy taxation on profits would stifle innovation and reduce production, harming overall prosperity.
In simple terms: High taxes hinder innovation.
Key Takeaway
Consider tax impacts on entrepreneurship.
Themes
economics
taxation
innovation
entrepreneurship
public policy
Mood
analytical
thoughtful
Type
economic
policy
When to use this quote
- business planning
- government budgeting
- investment decisions
- economic forecasting
Key Concepts
capitalism
market incentives
wealth distribution
Questions to Reflect On
- What tax structures best encourage innovation?
- How can societies fund public goods without discouraging entrepreneurship?
A Different Perspective
Tax policy must balance revenue and growth.
