Wednesday, October 31, 2018

Piggy Bank for Statists

"Shut it down. Shut it down, now."
--Telco operator (Die Hard)

As long as government can shower special interest groups with economic resources, then politicians will be for sale. Campaign finance laws will not stop this as there are other avenues for buying political favor.

Markets for political favor will only be shut down when the spigot of economic resources flowing to government is turned off. Two valves must be shut. One is the income tax valve.

The other, as Ron Paul and Lew Rockwell observe, is the Federal Reserve valve.
Because overt confiscation via income taxes has a ceiling before people will revolt, the Fed is a more lucrative channel for acquiring resources. The Fed is indeed the piggy bank for statists.

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