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I think it should be
You can fool all of the people some of the time,
and some of the people all of the time,
but you can't fool all of the people all of the time.
The Oxford Dictionary of Quotations certainly gives no positive attribution to Lincoln. The first quotation appeared nearly 40 years after the guy was helped on his way:
You may fool all the people some of the time; you can even fool some of the people all the time; but you can’t fool all of the people all the time.
In Alexander K. McClure Lincoln’s Yarns and Stories (1904); also attributed to Phineas Barnum
Interestingly, the quotation uses 'may', not 'can' for the first hypothesis.
I like the Barnum attribution: he was a lot more cynical than Lincoln ("sucker born every minute").
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