Quotation of the Day…
Posted By Don Boudreaux On August 25, 2012 @ 8:44 am In History,Law | Comments Disabled
… is from page 229 of Amity Shlaes’s 2007 book, The Forgotten Man [1]:
At tea at his house the year before, [FDR's Secretary of Labor Frances] Perkins has sat beside Justice Harlan Stone, and he gave her a tip. She had confided her fears that any great social insurance system would be rejected by his court. Not so, he said, and whispered back the solution: “The taxing power of the federal government my dear; the taxing power is sufficient for everything you want and need.” If the Social Security Act was formulated as a tax, and not government insurance, it could get through.
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[1] The Forgotten Man: http://www.amazon.com/The-Forgotten-Man-History-Depression/dp/0060936428/ref=la_B000APJK7E_1_1?ie=UTF8&qid=1344338127&sr=1-1
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