Share on Facebook Share on Twitter Comment on this quote Share via Email Print this Page [401-420] of 579 Economics quotesEconomics QuotesEconomics Previous 20 quotes Next 20 quotes The secret dread of modern intellectuals, liberals and conservatives alike, the unadmitted terror at the root of their anxiety, which all of their current irrationalities are intended to stave off and to disguise, is the unstated knowledge that Soviet Russia is the full, actual, literal, consistent embodiment of the morality of altruism, that Stalin did not corrupt a noble ideal, that this is the only way altruism has to be or can ever be practiced. If service and self-sacrifice are a moral ideal, and if the "selfishness" of human nature prevents men from leaping into sacrificial furnaces, there is no reason -- no reason that a mystic moralist could name -- why a dictator should not push them in at the point of bayonets -- for their own good, or the good of humanity, or the good of posterity, or the good of the latest bureaucrat's five-year plan. There is no reason that they can name to oppose any atrocity. The value of a man's life? His right to exist? His right to pursue his own happiness? These are concepts that belong to individualism and capitalism -- to the antithesis of the altruist morality.~ Ayn Rand Make no mistake about it -- and tell it to your Republican friends: capitalism and altruism cannot coexist in the same man or in the same society. Tell it to anyone who attempts to justify capitalism on the ground of the "public good" or the "general welfare" or "service to society" or the benefit it brings to the poor. All these things are true, but they are the by-products, the secondary consequences of capitalism -- not its goal, purpose or moral justification. The moral justification of capitalism is man's right to exist for his own sake, neither sacrificing himself to others nor sacrificing others to himself; it is the recognition that man -- every man -- is an end in himself, not a means to the ends of others, not a sacrificial animal serving anyone's need.~ Ayn Rand Only when the human spirit is allowed to invent and create, only when individuals are given a personal stake in deciding economic policies and benefiting from their success -- only then can societies remain economically alive, dynamic, prosperous, progressive and free.~ Ronald Reagan Our federal tax system is, in short, utterly impossible, utterly unjust and completely counterproductive, [it] reeks with injustice and is fundamentally un-American... it has earned a rebellion and it's time we rebelled.~ Ronald Reagan There are many well-meaning people today who work at placing an economic floor beneath all of us so that no one shall exist below a certain level or standard of living, and certainly we don't quarrel with this. But look more closely and you may find that all too often these well-meaning people are building a ceiling above which no one shall be permitted to climb and between the two are pressing us all into conformity, into a mold of standardized mediocrity.~ Ronald Reagan You and I are told we must choose between a left or right, but I suggest there is no such thing as a left or right. There is only an up or down. Up to man's age-old dream -- the maximum of individual freedom consistent with order -- or down to the ant heap of totalitarianism. Regardless of their sincerity, their humanitarian motives, those who would sacrifice freedom for security have embarked on this downward path. Plutarch warned, 'The real destroyer of the liberties of the people is he who spreads among them bounties, donations and benefits.'~ Ronald Reagan There are no such things as limits to growth, because there are no limits on the human capacity for intelligence, imagination and wonder.~ Ronald Reagan Government does not tax to get the money it needs; government always finds a need for the money it gets.~ Ronald Reagan Are you entitled to the fruits of your labor or does government have some presumptive right to spend and spend and spend?~ Ronald Reagan Have we the courage and the will to face up to the immorality and discrimination of the progressive tax, and demand a return to traditional proportionate taxation? ... Today in our country the tax collector's share is 37 cents of every dollar earned. Freedom has never been so fragile, so close to slipping from our grasp.~ Ronald Reagan One definition of an economist is somebody who sees something happen in practice and wonders if it will work in theory.~ Ronald Reagan After the 16th Amendment was ratified, an income tax was imposed starting in 1913 with rates ranging from 1 percent to 7 percent with the top rate applying only to incomes in excess of $500,000. By 1916 that top rate had risen to 15 percent, on income in excess of $2,000,000. The top rate exceeded 90 percent at its peak in the early 1950s. The first 1040 form -- instructions and all -- took up only four pages. Today there are some 4,000 pages of tax forms and instructions. American workers and business are forced to spend more than 5.4 billion man-hours every year figuring out their taxes. Since those hours could be put to a more productive use, and almost surely would be in the absence of today’s incomprehensible tax code, the result is a large dead-weight output loss of some $200 billion each year. ... The IRS now has more enforcement personnel than the EPA, BATF, OSHA, FDA, and DEA combined. With its 115,000-man workforce, it has the power to search the property and financial documents of American citizens without a search warrant and to seize property from American citizens without a trial. It routinely does both. Economist James L. Payne has written a most revealing analysis of the IRS, a 1993 book entitled Costly Returns. He arrives at a stunning conclusion, the total cost to collect our federal taxes, including the effects on the economy as a whole adds up to an amazing 65 percent of all the tax dollars received annually. The U.S. tax system, says Payne, has produced hundreds of thousands of victims of erroneous IRS penalties, liens, levies, and tax advice. In answering taxpayer questions, for example, the IRS telephone information service has in previous years given about one-third of all callers -- as many as 8.5 million Americans -- the wrong answers to their questions. A 1987 General Accounting Office study found that 47 percent of a random sample of IRS correspondence -- including demands for payments -- contained errors. Incredibly a GAO audit of the IRS in 1993 found widespread evidence of financial malfeasance and gross negligence at the agency. The IRS could not account for 64 percent of its congressional appropriation!~ Dr. Lawrence W. Reed It constantly amazes me that defenders of the free market are expected to offer certainty and perfection while government has only to make promises and express good intentions. Many times, for instance, I’ve heard people say, "A free market in education is a bad idea because some child somewhere might fall through the cracks," even though in today’s government school, millions of children are falling through the cracks every day.~ Dr. Lawrence W. Reed The value of paper money is precisely the value of a politician's promise, as high or low as you put that; the value of gold is protected by the inability of politicians to manufacture it.~ Sir William Rees-Mogg Congress is extraordinarily reluctant to inject itself into foreign policy. It has dumped entirely its constitutional duty for money onto a central bank, and for trade, onto the executive branch. It seems to never know what the CIA and other intelligence agencies are doing. Like the Romans, they no longer talk of the republic or liberty. And like the Romans, the American people, or most of them anyway, don’t seem to care. ... Like the Romans, we no longer have a citizen army but professional legions, and whether they wear jackboots or not, some federal officers seem to regard Americans with about the same compassion as the Praetorian Guard had for the plebes. As in Rome, the air is full of suspicion, intrigues and conspiracies, real or imagined, and the air reeks of greed and opportunism. As those on the Tiber, the rulers on the Potomac have grown suspicious of the people, don’t trust them and, in some cases fear them. And, as in Rome, they grovel in luxury while taking 40 cents on the dollar out of the sweat of working people to pay for corn and circuses to keep the mob satisfied. ~ Charley Reese If we could manage our own finances the way the Congress does the nation’s, we’d all be living in high cotton and eating high on the hog.~ Charley Reese The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress.~ Robert Reich It ain’t over on April 15! If you stop, for example, for a $10 pizza on Thursday night to celebrate being done with the IRS for another year, the taxman will be right there to grab a slice or two. On top of paying the sales tax, you’ll also be picking up a major chunk of what the government charges the pizza shop owner for local property taxes, unemployment insurance taxes, federal payroll taxes, federal and state and local income taxes, and worker’s compensation taxes. Altogether, according to a study by the Americans for Tax Reform, that comes to $3.80 on a $10 pizza for the omnipresent taxman. If you pick up a Bud six-pack to go with the pizza, there’s another 43 cents of each beer dollar that goes straight to the taxman for excise taxes, income taxes, property taxes, etc. For something stronger, say Jack Daniels, the taxman’s share is $7.20, on average, out of every $10. Go lighter and just drink Pepsi and it’s 35 percent of what you pay that goes for taxes at all levels. Add some Marlboros and its 75 percent of the retail price that’s funneled directly into the state’s coffers. Get home and hit the light switch and another $26 out of every $100 on the electric bill goes for government rather than electricity. If you’re flying the next day, the taxman is up early and waiting at the aiport, pocketing $40 on every $100 airline ticket. And he’s there in the hotel lobby when you land, snatching $43 on every $100 of the hotel bill. Go out to dinner and it’s another $28 of every $100 of the tab that ends up with the government rather than with the restaurant, the farmers, truckers and everyone else who worked together to produce the meal.~ Ralph Reiland Among other grand achievements, F. A. Hayek had a remarkable career pointing out the flaws in collectivism. One of his keenest insights was that, paradoxically, any collectivist system necessarily depends on one individual (or small group) to make key social and economic decisions. In contrast, a system based on individualism takes advantage of the aggregate, or 'collective,' information of the whole society; through his actions each participant contributes his own particular, if incomplete, knowledge—information that could never be tapped by the individual at the head of a collectivist state.~ Sheldon Richman Economic necessity cannot justify a disregard of cardinal constitutional guarantee.~ Riley v. 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