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There is some logic to this. I think it was Plato who commented that a democracy was doomed once its citizens realised they could vote themselves largesse out o
by IsaacL 13y ago
There is some logic to this. I think it was Plato who commented that a democracy was doomed once its citizens realised they could vote themselves largesse out of the treasury. Which is pretty much what is happening these days in every modern industrial democracy - government spending constantly increases and any suggestions of cutting spending are met by massive protests.
Example: in the UK media right now you will read many stories about the current government's "deep, savage cuts", and all the poor people who are suffering as a result of these cold, uncaring conservatives. But after all these cuts the UK is still running at a deficit.
Of course, Plato was an old fool who lived in the days before fiat money. Why raise taxes or cut spending when you can simply borrow more?
- tthomas48 13y agoFunny how people always use this example as the poor voting themselves largess out of the treasury. The rich do this too in the form of ridiculously low taxes relative to the amount of money they have. Just because the number on your tax bill is super large, doesn't mean you have a super-large tax bill relative to the amount of money you have.
- adolph 13y agoSo true and also not a refutation of the parent. In the spirit of an eye for an eye one might observe that an entitlement for an entitlement leaves us all poor. Somehow the means is easier to learn than the consequence.
- nickff 13y ago“The state is that great fiction by which everyone tries to live at the expense of everyone else.” ― Frédéric Bastiat
- bubbleRefuge 13y agoSeems to me Europe and US in more of an Austerity mode than anything else.