"The line has been used, "We’ve never had it so good". But I have an uncomfortable feeling that this prosperity isn’t something on which we can base our hopes for the future. No nation in history has ever survived a tax burden that reached a third of its national income. Today, 37 cents out of every dollar earned in this country is the tax collector’s share, and yet our government continues to spend $17 million dollars a day more than the government takes in. We haven’t balanced our budget 28 out of the last 34 years. We’ve raised our debt limit three times in the last twelve months, and now our national debt is one and a half times bigger than all the combined debts of all the nations in the world. We have $15 billion in gold in our treasury—we don’t own an ounce. Foreign dollar claims are $27.3 billion, and we have just had announced that the dollar of 1939 will now purchase 45 cents in its total value."
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Ronald Reagan, "A Time for Choosing" (1964)
https://en.wikiquote.org/wiki/Taxation_in_the_United_States
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Taxation in the United States
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