Quote

..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.

Henry Hazlitt

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Henry Hazlitt
Age: 98 †
Born: 1894
Born: November 28
Died: 1993
Died: July 8
Economist
Journalist
Philosopher
Philadelphia
Pennsylvania
Henry Stuart Hazlitt
Way
Another
Debt
Light
Spending
Government
Miracle
Taxation
Look
Supposed
Dollar
Matter
Dollars
Miracles
Looks
Raised
Immediately
Must
Taxes
Appear
Every
Either
Ultimately

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Liberty is the essential basis, the sine qua non, of morality.
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Give me the clear blue sky above my head, and the green turf beneath my feet, a winding road before me, and a three hours' march to dinner - and then to thinking!
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Relief, or redistribution of income, voluntary or coerced, is never the true solution of poverty, but at best a makeshift, which may mask the disease and mitigate the pain, but provides no basic cure.
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Precisely because the State has the monopoly of coercion it can be allowed the monopoly only of coercion. Only if the modern State can be held within a strictly limited agency of duties and powers can it be prevented from regimenting, conquering, and ultimately devouring the society which gave it birth.
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The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy it consists in tracing the consequences of that policy not merely for one group but for all groups.
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The ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors, and a further proof of the dictum that those who are ignorant of the past are condemned to repeat it.
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What is put into the hands of B cannot be put into the hands of A.
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The great merit of gold is precisely that it is scarce that its quantity is limited by nature that it is costly to discover, to mine, and to process and that it cannot be created by political fiat or caprice.
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The only way government bureaucrats know of keeping prosperity going is to inflate some more - to increase the deficit or to pump more money into the system.
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A Day never passes without some ardent reformer or group of reformers suggesting some new government intervention, some new statist scheme to fill some alleged 'need' or relieve some alleged distress.
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A hundred welfare programs, spending more and more billions, lead to chronic budget deficits, which lead to increased paper-money issues, which lead to higher prices.
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Multiculturalism means your kid has to learn some wretched tribal dirge for the school holiday concert instead of getting to sing 'Rudolph the Red-Nosed Reindeer.'
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Arbitrary government power is being multiplied daily by the now practically unchallenged assumption that wherever there is any problem of any kind to be solved, government is the agency to step in and solve it.
Henry Hazlitt
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The surest way for a poor nation to stay poor is to harass, hobble, and straitjacket private enterprise or to discourage or destroy it by subsidized government competition, oppressive taxation, or outright expropriation.
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The capitalist system has lifted mankind out of mass poverty. It is this system that in the last century, in the last generation, even in the last decade, has acceleratively been changing the face of the world, and has provided the masses of mankind with amenities that even kings did not possess or imagine a few generations ago.
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Once the premise is accepted that poverty is never the fault of the poor but the fault of 'society,' or of 'the capitalist system, then there is no definable limit to be set on relief, and the politicians who want to be elected or reelected will compete with each other in proposing new 'welfare' programs to fill some hitherto 'unmet need.'
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If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.
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From a strictly economic point of view, buying gold in a major inflation and holding it probably presents the least risk of capital loss of any investment or speculation.
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Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine - the special pleading of selfish interests.
Henry Hazlitt
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The crying need today is not for more laws, but for fewer. The world must be saved from its saviors. If the friends of liberty and law could have only one slogan it should be: Stop the remedies!
Henry Hazlitt