Economic history is a long record of Government policies that failed because they were designed with a bold disregard for the laws of economics.
- Ludwig von Mises - Topics: Government.
There is no such thing as an unbalanced federal budget. You are paying for it. If you're not paying for it in the form of explicit taxes, you're paying for it indirectly in the form of inflation or in the form of borrowing.
- Milton Friedman - Topics: Tax, Government, Debt.
They tell us that the government can spend and spend without taxing at all, that it can continue to pile up debt without ever paying it off, because "we owe it to ourselves". Such pleasant dreams in the past have always been shattered by national insolvency or a runaway inflation. All government expenditures must eventually be paid out of the proceeds of taxation and inflation itself is merely a form, and a particularly vicious form, of taxation.
- Henry Hazlitt - Topics: Monetary Policy, Inflation, Government, Tax.
Be thankful we're not getting all the government we're paying for.
- Will Rogers - Topics: Tax, Government.
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other. If government spending is financed by borrowing from the commercial banks, it means credit expansion and inflation.
- Ludwig von Mises - Topics: Debt, Government, Monetary Policy, Tax.
The government must keep its hands off the recession, so that the recession process can quickly eliminate the distortions imposed by the government-created inflationary boom
- Ludwig von Mises - Topics: Government, Monetary Policy.
Inflation is caused by the Federal government spending more than it earns, because they just print more money to make up the difference. To solve inflation, reduce wasteful government spending. Your tax dollars should be spent well, not poorly.
- Elon Musk - Topics: Inflation, Government.
The hardest thing in the world to understand is income tax.
- Albert Einstein - Topics: Tax, Government.
I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop.
- Friedrich A. Hayek - Topics: Cryptocurrency, Central Bank, Bitcoin, Banking System, Government.
Experience, however, shows that neither a state nor a bank ever have had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.
- David Ricardo - Topics: Inflation, Government, Fiat Currency, Cryptocurrency, Bitcoin.
The long run is a misleading guide to current affairs. In the long run we are all dead.
- John Maynard Keynes - Topics: Default, Debt, Government.
I put it to you: if you rob people of their ability to determine their own future, they will turn to violence.
- Nigel Farage - Topics: Government, Eurocrisis, Debt, Austerity.
I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
- Friedrich A. Hayek - Topics: Fiat Currency, Government, Inflation, Monetary Policy.
The issue is always the same: the government or the market. There is no third solution.
The correct conclusion in my view is that we need to be pre-emptive in avoiding these types of problems in the future. Monetary policy should not be aimed at cleaning up a mess, but leaning against the wind to avoid the mess in the future.
- Stephen Roach - Topics: Money, Monetary Policy, Government.
The government takes your money away with taxes and then hires people to bother you even more.
- Marc Faber - Topics: Government.
By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.
- John Maynard Keynes - Topics: Tax, Inflation, Government, Fiat Currency.
You have to keep government spending as a fraction of our income. If you do that, you can stop worrying about the debt.
One thing is clear: The Founding Fathers never intended a nation where citizens would pay nearly half of everything they earn to the government.
- Ron Paul - Topics: Tax, Government.
Socialism works fine until you run out of someone else's money.
- Margaret Thatcher - Topics: Tax, Socialism, Government.
When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.
- Frédéric Bastiat - Topics: Government.
A government big enough to give you everything you want, is strong enough to take everything you have.
- Thomas Jefferson - Topics: Government, Tax.
The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer, it will go to India. If we purchase fruits and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car, it will go to Germany and Japan. If we purchase useless crap, it will go to Taiwan. In short, none of it will help the American economy. The only way to keep that money here at home is to spend it on beer, since this isthe only product still produced in the US. I've been doing my part...
Governments are like primitive cannibals feasting on a great treasure trove of sheeple. You can't force them out, and you can't vote them out. But you can sure as hell starve them out. When enough people pick up and leave, essentially voting with their feet, it accelerates the system crash.
- Simon Black - Topics: Tax, Government.
The State is the great fiction through which everyone endeavours to live at the expense of everyone else.
The progress of the enormous debts which at present oppress, and will in the long-run probably ruin, all the great nations of Europe, has been pretty uniform. (written in 1776)
- Adam Smith - Topics: Government, Default, Debt.
The problem is not that people are taxed too little, the problem is that government spends too much.
- Ronald Reagan - Topics: Tax, Government.
With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.
- Friedrich A. Hayek - Topics: Inflation, Government, Fiat Currency, Bitcoin, Monetary Policy.
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.
- John Maynard Keynes - Topics: Government, Inflation.
The two enemies of the people are criminals and Government, so let us tie the second down with the chains of the constitution so the second will not become the legalized version of the first.
- Thomas Jefferson - Topics: Government.
The sad fact is we have no easy way out of the debt situation.
- John Mauldin - Topics: Government, Default, Debt.
Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it.
Are you joking, having faith in the U.S. administration. I wonder who in the world would have a faith in the U.S. administration. For sure not someone who thinks.
- Marc Faber - Topics: Central Bank, Government, Monetary Policy.
One has not only a legal, but a moral responsibility to obey just laws. Conversely, one has a moral responsibility to disobey unjust laws.
- Martin Luther King - Topics: Government.
Keep your eye on how much the government is spending, because that is the true tax.
I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.
- Warren Buffett - Topics: Politics, Government, Debt.
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