"When I came to Washington in 1932, corporation profits were nonexistent. They had a loss that year of $3,400 million. In 1942, 10 years later, we got it up to $9½ billion. In 1952, 10 years later, we got it up to $17.2 billion. In 1962 we got it up to $24.6 billion. In 1963 we got it up to $27.1 billion, and the Chairman of the Council of Economic Advisers tells me we are not only not going to lose $3,400 million this year, as we did 32 years ago when I came here, but our profits this year are going to be $31 billion after taxes--these high taxes. Labor has gotten about $52 billion more in wages than they got in 1961 Their wages have increased $51 billion or $52 billion in 3 years. Corporation profits have increased from a $3.4 billion loss in 1932 to $31 billion after taxes. Now, those groups--the capitalists who make the investments, the managers who manage it, and the workers who produce it-have got to be concerned about these taxeaters. There is an increasing proof that we can at long last break this unemployment stalemate that has marked our economic life month in and month out for several years."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Presidents of the United StatesPoliticians from TexasMembers of the United States SenateUnited States presidential candidates, 1968United States presidential candidates, 1964
Original Language: English
Available Languages (1)
Sources
Imported from EN Wikiquote
https://en.wikiquote.org/wiki/Lyndon_B._Johnson
Revision History
No revisions have been submitted for this quote.
Categories
Related Quotes
"During the 2012 campaign, Obama’s advisers heard the same thing in focus groups with sympathetic voters. These voters…"
"Johnson’s presidency will always be shadowed by the tragedy of the Vietnam War and the domestic civil unrest it trigg…"
"This year, while House Speaker Paul D. Ryan helped to shape the Trump proposal, the president did not show deep knowl…"
"In pushing his health care bill, Mr. Trump had the superficial advantage of controlling both houses of Congress. But …"
"We know that Mr. Trump dismissed the counsel of some advisers not to risk his entire legislative program by asking Co…"
"At his best, Lyndon Johnson was one of the greatest of all American presidents. He did more for racial justice than a…"
"Among Woods’s many achievements in this fine biography is to allow us to see not only the enormous, tragic flaws in t…"
"President Obama is no President Lyndon Johnson — and wouldn't be even if he tried. To those who might wish the presid…"
"When Lyndon Johnson -- President Johnson -- spoke here in 1964, he addressed issues that remain with us. He proposed …"
"Chris Cillizza: If there is a list of the 15 greatest senators ever, is McCain on it? Why or why not? Ross Baker: He’…"