"The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." --Thomas Jefferson

Monday, October 27

The Gipper

The Gipper and I are of a similar opinion. I wrote almost the same thing last week only he said it more eloquently 25 years ago.

“The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us. Business doesn’t pay taxes, and who better than business to make this message known? Only people pay taxes, and people pay as consumers every tax that is assessed against a business. Begin with the food and fiber raised in the farm, to the ore drilled in a mine, to the oil and gas from out of the ground, whatever it may be—through the processing, through the manufacturing, on out to the retailer’s license. If the tax cannot be included in the price of the product, no one along that line can stay in business.” —Ronald Reagan

1 comment:

Carlee Hoopes said...

I don't understand why this is so hard for people to understand. It seems like common sense, but apparently it's not. Obviously the taxes imposed on businesses will be passed down to the consumers. Why is that so hard to understand? I guess for the same reason people don't understand that inflation is essentially a hidden tax as well. The more our government steps in to "rescue" people and their failing businesses (and in your newest post about CA and NY, states), the more the money that needs to be created. The more money that is created, the more the inflation. The more the inflation the more we pay...and BINGO, a secret tax has once again been imposed on us. I could go on and on about this one. I guess it's expecting too much out of people to assume they'd think about things logically for more than 2 seconds.