Thursday, September 10, 2009

The Power to Tax

I read a letter to the editor today that underscores why history is important. The author suggested that the only way to control government spending was to separate the power to tax from the power to spend.

It has been tried before.

It leads to an underfunded, weak, and ineffectual government. And if the power to borrow isn't included in the power to tax, it leads to even greater government deficits.

There must be a solution, but that's not it.

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