"There are men, in all ages, who mean to exercise power usefully; but who mean to exercise it. They mean to govern well; but they mean to govern. They promise to be kind masters; but they mean to be masters." Daniel Webster

Saturday, May 16, 2009

Spending is the Tax

Economist Jerry O'Driscoll writes:
If Milton Friedman is correct, however, the tax increase has already occurred. For Friedman, government spending is the tax — the measure of the extraction of real resources from the economy by government.


That's why I used to scoff at so-called conservatives who said that, at least, George W. Bush cut taxes.

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