Keep your eye on how much the government is spending, because that is the true tax.
Our take on this quote:
💡💸 The Hidden Tax 💸💡
It's not just about what they take - it's about what they spend. Government spending is the tax you never see. 🧠⚖️
Milton Friedman’s quote highlights a key economic insight: government spending is a form of taxation, even if it's not directly labeled as such. While taxes are the obvious way governments collect money, their expenditures have long-term effects on the economy, including inflation and national debt, which ultimately impact the public. Friedman’s wisdom encourages us to pay attention not just to tax rates, but to how much the government is spending, as this is the hidden cost that affects everyone, whether through future taxes, reduced purchasing power, or economic instability.
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