The media obsess about tax rates, but spending is more important, says John Stossel. If government spends a dollar, that dollar is taxed away from someone. If it's borrowed, it's removed from productive use, setting the stage for higher taxes later. If the government prints more dollars to fund spending, our purchasing power falls. Transferring purchasing power from the people to the government via inflation is a form of taxation.
GET REASON MAGAZINE
Get Reason's print or digital edition before it’s posted online
- How the government encourages kangaroo courts for campus sex crimes
- Matt Welch: The disastrous ObamaCare rollout unmasks liberalism’s paternalistic dishonesty
- Jacob Sullum: The Supreme Court should end the distinction between campaign spending and contributions
- Virginia Postrel: Glamour and the art of Persuasion