Taxes and Spending

US National Debt now exceeds $18 Trillion with no end in sight. Will we see national default on the debt or hyperinflation?

Ludwig von Mises understood that the unpopularity of taxes tended to limit the extent that governments could spend. But, if governments are freed from needing to raise taxes for revenue, as central banks allow them to do, they are unleashed.

The most recent job report appears, on the surface, encouraging news for the U. S. economy.

A perpetual and unlimited debt brings the cheapening of money and then inflation, whereby the middle class is economically murdered in its sleep. 

American revolutionaries revolted in part over high tariffs, but the new American state immediately began raising tariffs after the revolution, and tariffs have played an important role in American wars, imperialism, and crony capitalism ever since. 

Coming in Monday’s Mises Daily, Patrick Barron will explore the moral hazard that often plague

Austerity is nothing more than allowing the private sector more control over what it produces. Those who argue against austerity are claiming that government will more wisely spend, invest, and save than private persons and firms. 

One lesson from the United States’ Obamacare debacle has been that if Congress can’t get its way through regulation, it can always resort to taxes.

Mark Thornton explains why Obamacare is simply one more step along the road to health care serfdom.

Recently, Peter G. Klein appeared on the “The Wilkow Majority” radio program.