Wednesday, October 29, 2008

Get This, and You'll Get Sound Economics

Thomas Sowell:

"Chief Justice John Marshall said it all in one sentence: 'The power to tax is the power to destroy.' It is not the money that is taxed away that is destroyed. What is destroyed is the wealth that does not get produced in the first place, because high taxes make its production not worthwhile."


"The economy is not a zero-sum game where someone gains what others lose. The whole economy can lose when ill-considered policies gain political popularity and stifle economic growth."