"This is like a gift! Hey, the Kuch never forgets a gift, man."
--Kuch (Vision Quest)
Good observation here. Once legalized theft is institutionalized, then social reference points are turned upside down. The comment that a top bracket tax cut would create a 'windfall' for the wealthy is a good example.
There is no windfall when individuals keep their property.
His follow-up example is a good one. You walk ten city blocks. Upon your safe return, are you likely to exclaim, "Whew, glad I wasn't mugged on that trip. What a windfall!"
Keeping your property and not getting robbed (or enslaved) does not create a windfall.
The recipients of resources forcibly taken by the State, on the other hand, they are the ones who realize windfalls.
Friday, April 1, 2016
Windfalls
Labels:
agency problem,
government,
institution theory,
intervention,
property,
self defense,
socialism,
taxes,
war
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