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American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility that the two are connected.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Possibility
American
Free
Overlook
Two
Unusual
World
Highly
Enterprise
Prosperity
Connected
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The biggest and most deadly 'tax' rate on the poor comes from a loss of various welfare state benefits - food stamps, housing subsidies and the like - if their income goes up.
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I have never understood why it is greed to want to keep the money you have earned but not greed to want to take somebody else's money.
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It takes considerable knowledge just to realize the extent of your own ignorance.
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The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
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To say the Constitution is living is to say that it's dead.
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The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.
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Benedict Arnold was a war hero, wounded in battle--before he turned against his country. Hitler was likewise a decorated and wounded veteran of the First World War. Being a war hero is not a lifetime...exempt[ion]...from responsibility for what you do thereafter.
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Whether as a radical student, a community organizer or a far left politician, Barack Obama's ideology has been based on a vision of the Haves versus the Have Nots. . .Obama's ideology is an ideology of envy, resentment, and payback.
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Has Obama ever grown even a potted plant, much less a business, a bank, a hospital or any of the numerous other institutions whose decisions he wants to control and override? But he can talk glibly about growing the economy. Arrogance is no substitute for experience. That is why the country is in the mess it is in now.
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Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.
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Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.
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As far as party primaries are concerned, both Republican - and Democratic - Party primaries are dominated by the most zealous voters, whose views may not reflect the views of most members of their own respective parties, much less the views of those who are going to vote in the November general election.
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There is no talent so ardently supported, nor generously rewarded, as the ability to convince parasites they are victims.
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People have a vested interest in promoting one set of polices rather than finding out what the truth is.
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What then is the intellectual advantage of civilization over primitive savagery? It is not necessarily that each civilized man has more knowledge but that he requires far less.
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The Congressional Budget Office has been embarrassed repeatedly by making projections based on the assumption that tax revenues and tax rates move in the same direction.
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Morality, like other inputs into the social process, follows the law of diminishing returns- meaning ultimately, negative returns. People can be too moral.
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The principles applied in economic processes are general social principles.
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When you start off by telling those who disagree with you that they are not merely in error but in sin, how much of a dialogue do you expect?
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The great allure of government programs in general for many people is that these programs allow decisions to be made without having to worry about the constraints of prices, which confront people at every turn in a free market.
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