Taxes and Spending

From its inception, the Fed's job has been to pay off the debt and cover excess expenditures with newly printed paper money.

An additional—and quick—$1 trillion spending boost in energy-intensive and material consuming industries is likely to create new problems in terms of inflation and supply shortages.

The new proposal is framed as a tax on the ultrarich. The same was true of the new income tax in 1913. If given the power to tax unrealized gains, expect the feds to expand the tax to ordinary people.

The appropriate question is not “Who will build the roads?” but rather “Who will pay for them without taxation?” History suggests the answer is "lots of people" and the "public goods" theory is wrong.