When will the government stop transferring wealth from the the poor to the rich? The hundreds of billions for bailing out banks or “stimulating” the economy are far more significant than the millions claimed by MPs. Whether the money comes from taxation, borrowing (deferred taxation), or inflation (taxation by stealth), it is theft from the poor. The poor are the only people who face marginal tax rates of 70%, 80%, 90%, 100%, 110%. This must stop.
“The main assumption behind which the Enemy Class justifies its looting of the taxpayers is that any cuts in public spending must fall on the welfare budget. Of course, it is a false assumption…”
“The situation would be similar to that of a people of an isolated island, if, after having partially constructed an enormous machine which was to provide them with all necessities, they found out that they had exhausted all their savings and available free capital before the new machine could turn out its product. They would then have no choice but to abandon temporarily the work on the new process and to devote all their labour to producing their daily food without any capital. Only after they had put themselves in a position in which new supplies of food were available could they proceed to attempt to get the new machinery into operation.”
- F.A. Hayek, 1932
That’s brilliant!