Archive for December, 2007
Inflation Tax?
- by John on December 14th, 2007
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Ok. I was watching the Republican debate this week (most of it was milktoast!) when Ron Paul mentioned “the inflation tax”. I didn’t really understand his brief explanation. So a buddy of mine pointed me to Ron Paul’s website where he defines it:
http://www.lewrockwell.com/paul/paul334.html
My paraphrase: Whenever Congress spends too much money they print some more or borrow it from other countries. It’s like the President and Congress walk around with a HUGE credit card with YOUR name on it. You ARE going to pay for that credit card including the interest!
I’m scared of giving my girls a credit card. Imagine what the government does with one.
This explains a great deal about the difference between a Democrat and Republican:
Republicans: Decrease our spending (programs) to pay down the credit card.
Democrats: Increase our income (taxes) to pay down the credit card.
That being said, as my friend (Danny Riley) pointed out, Republicans are looking more like Democrats everyday!