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Politics : PRESIDENT GEORGE W. BUSH
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To: Alexander who wrote (10604)2/1/2000 9:24:00 PM
From: DMaA  Read Replies (1) of 769667
 
If Americans suffer because the value of the $ drops relative to the currency of more efficient economies, this is simply another form of taxation. The great Milton Friedman taught us that how spending is financed is merely a detail, it comes out of taxpayer's hide one way or another.

You can finance spending through borrowing, by debasing the currency, or by direct taxation. Obviously some taxes are better than others. But if you spend all your time fighting about how to finance spending, you've no energy left to fight the real battle - spending itself.
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