The Problem Is Spending, Not Deficits
by Dan MitchellSpeaking recently a Steamboat Institute conference, I explain that big government is America’s fiscal challenge, not whether the spending is financed with taxes or borrowing. This issue is important because the statists are trying to create the conditions for a big tax hike. We got huge spending increases under Bush, and now Obama has picked up the baton and is racing in the same direction. Needless to say, the politicians don’t care about deficits when they are spending money. But when it is time to discuss tax policy, deficits suddenly become a giant threat to the economy and turning more of our money over to the political class is the only solution.
The Q&A session (which can be seen here) also is interesting. I pontificate about the financial crisis, Keynesian economics, the rule of law, and tax competition (both videos courtesy of the Center for Freedom and Prosperity).
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16 Comments
[...] This post was mentioned on Twitter by AZ grassroots. AZ grassroots said: The Problem Is Spending, Not Deficits http://bit.ly/12CWpX #dripusa #ocra #tcot [...]
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Yes, but when will politicians on both sides of the aisle own up to the Ponzi scheme that is Social Security?
They are ALLLLLL corrupt the media, the politicians, the corporations, ALLLLLLL of them and we know it. We just need to do something about it. Sign our petition pleaasseee.
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Dan, I hate to disagree with you but, " a big tax hike". Hardly !!
How about multiple big tax hikes from socializing medicine, the Cap n Tax scheme and now the VAT. Everywhere you turn today it is tax, upon tax, upon tax. They are trying to bankrupt us !
Government is not the solution, government is the problem.
Sir
More please
Sir
Kiss my Multi-Colored A$$
Bloody brilliant! Well done, Mr. Mitchell!
I agree with everything you said. Your monologue at the Steamboat Inst. conference was right on, government has always hampered progress when it comes to the growth of a nation. I also liked your speech on Class-warfare taxes. I am a man of few means, but I would not want to take from someone who has earned their money because, to use an Obama-ism, it is in the interest of fairness. How is it fair that covernment can take twice the amount of money that they normally would because that person makes way more than me. Whats the point in working at all, and I believe we get to your main point, if there is no longer any incentive to work, then why bother.
I agree with everything you said. Your monologue at the Steamboat Inst. conference was right on, government has always hampered progress when it comes to the growth of a nation. I also liked your speech on Class-warfare taxes. I am a man of few means, but I would not want to take from someone who has earned their money because, to use an Obama-ism, it is in the interest of fairness. How is it fair that government can take twice the amount of money that they normally would because that person makes way more than me. Whats the point in working at all, and I believe we get to your main point, if there is no longer any incentive to work, then why bother.
Brilliant! The broken record refrain of tax cuts, tax cuts, tax cuts means NOTHING unless we have spending cuts!
Size matters; when it comes to government, small is beautiful.
Amen!!!
But how do we get a smaller government? We make it bigger! How? The answer is in the Constitution http://www.thirty-thousand.org this is fascinating hope you check it out.
Dan Mitchell is great. Able to clearly explain economics, like Thomas Sowell, even to a numb skull like me. I especially like the dog chasing his tail metaphor. As the government sector increases, the private sector shrinks, and without a profit motive, innovative progress is stifled. Without progressive innovation, America becomes less competitive. And more people become dependent on the government and the government expands more, and round and round we go. The statists wonder why bigger government spending is a threat to liberty.
The reason Taxes go up is because people run to the govt. to solve their problems, its people who run to the govt. to solve their problems who cause all of us Liberty lovers to suffer. I have contempt for anyone who runs to the govt. to solve their problems, mostly weak minded liberals!
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