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"Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs."

— von Mises, Ludwig event 1949

From Human Action: A Treatise on Economics

Context: From Part Six, Chapter XXXII ("Confiscation and Redistribution"), Section 3 ("Confiscatory Taxation") of Human Action (1949).

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