If Deficits Don’t Matter, Why Bother with Taxes?

Source: Mises Institute.

It’s a good question.

In many kingdoms of the ancient world, taxes were a type of rent. The king owned all the land and everything in it. Subjects paid taxes to use the land and its resources. The king, in turn, raised an army to protect his subjects and invested in public works. It was a simple formula, but one sufficient to sustain a basic legal system and a generally free market for exchange.

Continue reading “If Deficits Don’t Matter, Why Bother with Taxes?”

EXCLUSIVE: Putin Humiliated Biden in Moscow Meeting, Reveals Obama-Era White House Stenographer.

Source: The National Pulse.

Vox Day comments on this story, “Putin knows. He knows a lot more about what’s actually going on than we do.”

My own thoughts are not quite so conspiratorial. The anecdote makes sense of Putin’s recent offer to hold a live discussion/debate with Biden. There is no chance Biden will take him up on it because Biden is weak and fearful.

The Destructive Power of Keynesian Spending Plans

Source: Mises Institute.

The writer uses the concepts of productive and non-productive consumption to show that government spending is inherently destructive.

I would add that some destructive spending is both necessary and desirable. Military defense spending, for example, deters war; judicial spending enables domestic conflicts to be resolved; and so on. The benefits far outweigh the costs.

Still, the costs are real and they are unavoidable.