Quotation by William Howard Taft

The decision of the Supreme Court in the income taxes cases deprived the National Government of a power which, by reasons of previous decisions of the court, it was generally supposed that Government had. It is undoubtedly a power the National Government ought to have.... I therefore recommend to the Congress that both Houses, by a two-thirds vote, shall propose an amendment to the Constitution conferring the power to levy an income tax upon the National Government without apportionment among the States in proportion to population ... and second, the enactment, as part of the pending revenue measure, either as a substitute for, or in addition to, the inheritance tax, an excise tax upon all corporations, measured by 2 percent of their net income.
William Howard Taft (1857–1930), U.S. president. Message concerning tax on net income of corporations, June 10, 1909. Presidential Addresses and State Papers of William Howard Taft, March 4, 1909, to March 4, 1910, 1: 167, 169, Doubleday, Page & Company (1910).
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