Wednesday, April 15, 2015

Quote of the Day

The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production. Total real wealth and income is made smaller than it otherwise would be. On net balance there is more poverty rather than less.
- Henry Hazlitt, The Conquest of Poverty [1973]

(Hat-tip Future of Freedom Foundation)

1 comment:

Anonymous said...

With inflection and bracket creek and GST, taxes under Key have increased something like 10%. Add in borrowing 70% of GST and that's another 10%.

And the best idea ACT has to decrease taxes is Michael Cullen's "Chewing Gum" Tax cut!