Correction: government will spend whatever it can, whether or not covered by taxes. Government is like an drug addict in the last stages of addiction—beg, borrow or steal to get that spending fix.
Milton and Rose Friedman were absolute giants in the field of economics!
Of course their conclusions don’t comport with the leftist agenda so many have never heard of them.
I agree.
Correction: isn’t the government, right now, spending twice as much as it takes him?
Isn’t the government borrowing $5 billion every single day for its deficit spending?
They will spend every penny that they take in, and they no longer borrow an extra 5% just to run us into debt forever — they now are 100% more, to keep on spending and spending and giving it away and using it for bribes.
Does everyone know what section 8 housing is? Have you ever seen it in action?
Have you ever been told by a Real estate agent that your wife and children might get raped by the swimming pool?
This is the kind of thing that you will hear, in the new United States of America, thanks to the giveaway of your tax money, called section 8 — see the post that I made just five minutes ago.
Barack Hussein Obama borrows more money in the name of the U.S. government in 30 days, than George Bush did in one year — but no one ever hears about it.
Annnd if that fails, watch out for your savings account!
fixed it!
Great Friedman quote:
“If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.”
Let’s think about ObamaCare for a moment in light of this quote and historical fact (USPS, AMTRACK, Social Security, etc, etc, etc.)
Great Friedman quote:
“If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.”
Let’s think about ObamaCare for a moment in light of this quote and historical fact (USPS, AMTRACK, Social Security, etc, etc, etc.)
Refreshing Milton Friedman bump!
His points on healthcare (10 years ago) are right on the button.
How far we have fallen! Conservatives have truly strayed too far afield. Milton Freedman WAS the man. Back in the day.
That’s why I always say it’s about the SPENDING more than the taxes.
You could tax to 99% and it still would not be enough for the tax and spend marxists ..... they’ll still overspend and want more.
You could tax to 100% and it still would not be enough for them. Even slavery is no upper limit to them.
Peter Robinson: Right, into the Social Security fund.
Milton Friedman: So they take these bonds out and sell them again to the public. How else are they going to pay for it? So what you are doing is simply changing the form of the debt, but you’re not really reducing the debt—
Peter Robinson: Because these obligations are going to be there no matter—
Milton Friedman: —is an evasion. In the long run government will spend whatever the tax system will raise, plus as much more as it can get away with. That’s what history tells us, I think. So my view has always been: cut taxes on any occasion, for any reason, in any way, that’s politically feasible. That’s the only way to keep down the size of government.
This is certainly a good argument for NOT raising taxes but what we really need is a balanced budget amendment with no exceptions(and term limits). War, recession, emergencies??? Forget it. There is NO one that we can elect that can be trusted to not to call everything an emergency and run up debts for political purposes, or just hit us with taxes. But at least with taxes presidents usually get voted out of office for raising them , unlike deficits that screw the unborn voter.
The best way to kill the liberal deficit spending beast is to starve the beast of tax revenues while simultaneously resurrecting the old Gramm-Rudman bill otherwise known as Paygo with teeth.
Gramm-Rudman, for the most part, worked in controlling Congressional spending. That is why Congress got rid of it.
I believe this to be a more accurate statement.