Word: unsounded
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Dates: during 1920-1929
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This scheme, it is reported, has already been put into effect, and several payments have already been made. But the plan seems to us to be based on an unsound economic theory, to the effect that a man's pocket book is as corpulent as his person. The facts scarcely seem to bear this out. Most of our millionaires (take Mr. Rockefeller for example) do not come under the scope of such an excess profits tax as this. Most of them are of medium build; some of them are actually thin. And in this hot weather, it is not likely...
...than billions. We want to get rid of our army of unemployed; get back to an economical system of administration. We should build up a budget system, to be prepared by or under the direction of the President, which contains estimates of all departments. The present system is very unsound. I had four years experience in trying to get appropriations for the army, and you go before various committees and make your requests before many different heads. There is no special co-operation between any of the departments. With the budget system all that is co-ordinated by the heads...
...little more than appeal to the sentiments of those seeking knowledge of their departed friends and he, too, must at times fall back on that final, unanswerable defense of all mediums that "it was spirits which caused me" to do this or that trick, which has been proved unsound...