When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Sunday, January 20, 2013

Government's Biggest Tax Bite

Tom Sowell reminds us that the government can take our money in so, so many ways--

Sometimes Government's Biggest Tax Bite Is Taken Out Of Poor - Investors.com: "If you define a tax as only those things that the government chooses to call a tax, you get a radically different picture from what you get when you say, "If it looks like a tax, acts like a tax and takes away your resources like a tax, then it's a tax." One of the biggest, and one of the oldest, taxes in this latter sense is inflation. Governments have stolen their people's resources this way, not just for centuries, but for thousands of years. . . .If you put $1,000 in your piggy bank in 1960 and took it out to spend in 2000, you would discover that your money had, over time, lost 80% of its value. Read More At IBD: http://news.investors.com/ibd-editorials-on-the-right/121012-636517-governments-steal-through-inflation.htm#ixzz2EnQeYxiB "


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects