Taxes and Spending

Presented by Thomas DiLorenzo at “Recovery or Stagnation?,” the Mises Circle in San Francisco; sponsored by Mark L.

If the government reduces both taxes and spending, it will leave more money in private hands.

In order to keep up the appearances of prosperity, government spending must be constantly increased, with an ever-increasing share of total production going to the nonproductive.

Our ancestors relied on themselves; we rely on the welfare state.

To continue on the road we Americans have traveled for the past century is ultimately to deliver ourselves completely into the hands of an unlimited government.

As interviewed by Mike Smyth, CKNW AM 980. Recorded 21 August 2009.

Central bank's and government's loose monetary and fiscal policies are instrumental in the weakening of the process of real savings formation through the diversion of real savings from wealth generators to non-wealth-generating activities.

On the other hand, a social order weakens these forces when it promises that if the individual's work is hindered by illness or the effects of a trauma, he shall live without work or with little work and suffer no very noticeable reduction in his income.

Recorded at Mises University 2009.

I will not contend that this scheme is free from all the defects inherent in government interference with economic affairs.