The idea that taxpayers owe it to you to pay for what you want suggests that much of today's education fails to instill reality, and instead panders to a self-centered sense of entitlement to what other people have earned.
Usury laws, though intended to protect the borrower, inflict upon him the most serious inconvenience. In periods of glut their operation is peculiarly injurious. As the want of a profitable vend is occasioned by ill-proportioned production, whatsoever obstructs the transference of capital retards the required correction in the distribution of industry, and renders the evil more permanent than it otherwise would be.
This objection against legislative interference with the interest of money, applies with equal force to all taxes imposed upon the conveyance of property. The less the transference of property is obstructed, the more rapidly will capital flow from the channels in which it is in excess, to those in which it is deficient, and the shorter will be the period during which commodities will be brought to market in undue proportions.
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
Inflation is the one form of taxation that can be imposed without legislation.
The idea that taxpayers owe it to you to pay for what you want suggests that much of today's education fails to instill reality, and instead panders to a self-centered sense of entitlement to what other people have earned.
Usury laws, though intended to protect the borrower, inflict upon him the most serious inconvenience. In periods of glut their operation is peculiarly injurious. As the want of a profitable vend is occasioned by ill-proportioned production, whatsoever obstructs the transference of capital retards the required correction in the distribution of industry, and renders the evil more permanent than it otherwise would be.