re: Say No to Taxes and Debt
August 4, 2004
I think our good friend Scott Trask poses a false choice. Debt finance under Bush would further disguise the true cost of government, leading to even higher levels of spending by causing what economists call a “fiscal illusion.” And governemnt spending is a better measure of the costs of governement than taxation is; every dollar the state spends must come from the private sector one way or another.
If Kerry were to keep his promise of tax-financed spending, that would limit the amount of spending compared to the situation where he used debt finance. Of course, he’s a lying, double-crossing politician, as is Bush, so there is no reason to beleive anything he promises.
Dr. Thomas DiLorenzo [send him mail] is president of the Mises Institute. He is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; The Problem with Socialism; and The Politically-Incorrect Guide to Economics.
Finally, the Truth in DC