Related Freeman Articles
The income tax penalizes saving.
JANUARY 23, 2012 by ROY CORDATO
The income tax double-taxes saving relative to consumption, that is, reduces the returns to saving twice, while reducing the returns to consumption just once.
MAY 21, 2009 by ROY CORDATO
Ultimately, the real choice is not between deficit-financed and tax-financed spending. The moral question is whether we should have more spending and bigger government with less liberty or less spending with a smaller government and more liberty. The hand-wringing on the left and right about passing the cost of "stimulating" our economy onto future generations is misplaced. No matter how it's financed, Obama's new spending has the potential to stimulate only one thing: the size, scope, and power of government.