Easy Money, Easy Lies
Strange how campaign season leads to the usual political drama over taxes. Republicans have learned the hard way that they should never raise them, at least not in ways that are noticeable. They accuse Democrats of plotting secret increases. The Democrats deny it but draw attention to mounting debt and hint that solving the problem will require serious measures. These serious measures might involve sacrifice. The voters are suspicious. And so the battle lines are drawn.
This observation is prompted by the disgusting fact that President Bush is running around the country saying that he will never raise taxes. Meanwhile, he is one of the greatest spenders in history. When it comes to his war, he will spend into oblivion. He has been the same on domestic spending too, but for a few high-profile cases of opposing programs that benefit his political enemies.
If this were the 19th century, the debate and drama would make sense. Some politicians believe that the public’s money is up for grabs. Others think that the people ought to keep their own. So it was.
What appears to be battle over fundamental ideology and political philosophy is, however, a complete illusion in our time.
There is one reason: the central bank. This is what has changed everything. No longer are taxes the main way the federal government guarantees its liquidity and funds its empire. If the state had to tax us for eve
Article from Mises Wire