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Quote by Garet Garrett

“No government can provide social security. It is not in the nature of government to be able to provide anything. Government itself is not self-supporting. It lives by taxation. Therefore, since it cannot provide for itself but by taking toll of what the people produce, how can it provide social security for the people?”

Quote by Garet Garrett

Author

Garet Garrett
Garet Garrett

Garet Garrett was an American journalist and author renowned for his political commentary and economic analysis. Born in February 19, 1878, and passing away on November 6, 1954, Garrett's career spanned several decades, during which he made significant contributions to the understanding of economic and political issues of his era. more

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“It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.”