Quote:
Originally Posted by Dondilion
I do not read here "Welfare state rhetoric". What I see is criticism of spending in general and the interplay between the Federal reserve and the Federal government.
The Federal reserve is facilitating the Federal government profligate behavior and avoidance of tax implementation by creating fake demand for treasure bonds.
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"Because higher taxes are politically untenable, the government would be forced to constrain its spending, putting a natural check on both the warfare and the welfare state."
Why are higher taxes politically untenable? Because libertarian wealth-holders don't like them.