“the larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment. When the total tax burden grows beyond a bearable size, the problem of devising taxes that will not discourage and disrupt production becomes insoluble.” GovernmentPovertyBurdenTaxCrushing Book:Economics in One Lesson Source: Economics in One Lesson
“Mere inflation-that is, the mere issuance of more money, with the consequence of higher wages and prices-may look like the creation of more demand. But in terms of the actual production and exchange of real things it is not.” PovertyInflationQe2Qe3 Book:Economics in One Lesson Source: Economics in One Lesson