It will come as no surprise to most of you to learn that PH starts the book with a fabricated quote from a Supreme Court case. This is from the first paragraph of the foreword. The ellipsis is a nice touch.
(emphasis in CTC)"...'income', as used in the statute should be given a meaning so as not to include everything that comes in". United States Supreme Court, So. Pacific v. Lowe, 247 U.S. 330, (1918)
The reason for the fabricated quote is not clear to me. Justice Pitney made the following actual statement in his opinion:
247 US 330, 335.We must reject in this case, as we have rejected in cases arising under the Corporation Excise Tax Act of 1909 (Doyle v. Mitchell Brothers Co., ante, 179, and Hays v. Gauley Mountain Coal Co., ante, 189) the broad contention submitted in behalf of the Government that all receipts -- everything that comes in -- are income within the proper definition of the term "gross income," and that the entire proceeds of a conversion of capital assets, in whatever form and under whatever circumstances accomplished, should be treated as gross income.
Why did PH fake a quote when he could have used the Court's own words? Is intelectual dishonesty so ingrained in his nature that he instinctively fakes a quote when a real one would work just as well?