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Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away

Ludwig von Mises

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Ludwig von Mises
Age: 92 †
Born: 1881
Born: September 29
Died: 1973
Died: October 10
Economist
Philosopher
University Teacher
Writer
Lemberg
Austria
Ludwig Heinrich Edler von Mises
Ludwig Heinrich Mises
Would
Progressive
People
Income
Profit
Saved
Taxed
Parts
Invested
Means
Profits
Away
Taxation
Mean
Precisely

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Servile labour disappeared because it could not stand the competition of free labour its un-profitability sealed its doom in the market economy.
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The early industrialists were for the most part men who had their origin in the same social strata from which their workers came. They lived very modestly, spent only a fraction of their earnings for their households and put the rest back into the business.
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There is no such thing as a just and fair method of exercising the tremendous power that interventionism puts into the hands of the legislature and the executive.
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Progress is precisely that which rules and regulations did not foresee.
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Action is an attempt to substitute a more satisfactory state of affairs for a less satisfactory one. We call such a willfully induced alteration an exchange.
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Economic control is not merely control of a sector of human life that can be separated from the rest it is the control of the means for all our ends.
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The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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He who serves the public best, makes the highest profits.
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
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It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective.
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Anarchism misunderstands the real nature of man. It would be practicable only in a world of angels and saints
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Depression is the aftermath of credit expansion.
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The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
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The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.
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Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them.
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To the grumbler who complains about the unfairness of the market system only one piece of advice can be given: If you want to acquire wealth, then try to satisfy the public by offering them something that is cheaper or which they like better....Equality under the law gives you the power to challenge every millionaire.
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A higher standard of living also brings about a higher standard of culture and civilization.
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Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
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The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption its alleged blessings are paid for by impoverishment.
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