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The transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.

Hans F. Sennholz

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Hans F. Sennholz
Testing
Benefits
Facing
Limits
Transfer
Demand
Limit
Financing
Forever
Reached
Transfers
Society
Demands
Resorts
Stills
Bounds
Taxpayers
Still
Loud
Deficit
Patience

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The government transfers income and wealth according to the rules of politics, which make politicians the primary beneficiaries of the system, and the poor and needy the primary victims.
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Modern government has become a universal transfer agency that utilizes the political process for distributing vast measures of income and wealth. It preys on millions of victims in order to allocate valuable goods and services to its beneficiaries.
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To live beyond your means today is to live below them tomorrow.
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A government debt is a government claim against personal income and private property - an unpaid tax bill.
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When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.
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Sound money and free banking are not impossible they are merely illegal.
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When all the mysticism is stripped away, the people who comprise the government (the legislators, administrators, judges, and policemen), are guided by human interests, desires, beliefs, notions, and prejudices, just like other people. They have neither superhuman wisdom nor extraordinary virtue.
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No other commodity enjoys as much universal acceptability and marketability as gold.
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Envy is more irreconcilable than hate. It is the most corroding of all political vices and also a great power in our land. The friends of freedom are content to be envied, but envy not.
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Peace is the natural state of man, war the temporary repeal of reason and virtue.
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Government is rather ill-suited and poorly equipped to alleviate the plight of the poor. It lacks moral rules or standards, and is devoid of basic principles in economic and social matters.
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Redistribution divided society into two social classes: the beneficiaries of transfer, who are calling for ever more and the victims, who submit unwillingly. It could hardly fail to injure social peace and harmony.
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The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time.
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Political power intoxicates the best hearts. No man is wise enough, nor good enough, to be trusted with much political power.
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The gold standard, in one form or another, will prevail long after the present rash of national fiats is forgotten or remembered only in currency museums.
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Every individual is a potential gold buyer, although he may not need the gold. It may be added to the store of personal wealth, and passed from generation to generation as an object of family wealth. There is no other economic good as marketable as gold.
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Every businessman enjoying customer patronage, whether he be a baker, banker, or barber is conferring a public benefit, raising production, and reducing unemployment businessmen earn their livelihood by producing products and rendering services where ever they are needed.
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A monetary order created and managed by politicians and officials is bound to disappoint.
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Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency. And few tasks, if any, are more important to the champion of freedom than creation of a sound monetary system.
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The gold standard sooner or later will return with the force and inevitability of natural law, for it is the money of freedom and honesty.
Hans F. Sennholz