Showing posts from November, 2023


Public office candidates routinely promise more handouts. In the US, Republicans were once the party of small government and balanced budgets but they and Democrats now vie with one another for more "free" benefits. One would think that voters understand by now that they pay for these benefits directly through higher taxes and indirectly through their constantly debased currency - but they do not. Voters are eager to raise taxes on businesses believing that will reduce their tax burden. They have not figured out that all corporate costs (labor, materials, utilities, insurance - and taxes ) must be passed on to the consumer or the company will go out of business. Thus, voters pay their personal income taxes and also corporate income taxes. Taxation and inflation are time-honored means by which workers are continually fleeced by their governments. Adam Smith wrote in his 1774 book, The Wealth of Nations , "There is no art which the government sooner learns than that of dr