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Politics : Foreign Affairs Discussion Group

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To: bentway who wrote (204284)9/25/2006 1:23:00 PM
From: Ilaine  Read Replies (1) of 281500
 
I do look down on middle class people demanding another handout. I don't have any problem with helping the poor, those too disabled to work, those too old to work, and those too young to work, but able bodied people who have jobs need to get their priorities straight. Instead of spending their money on cable TV, cell phones, Starbucks coffee, and vacations, spend it on health insurance.

Government spending other people's money is the least efficient way to provide goods and services.

To quote Milton Friedman:

>>There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what you're doing, and you try to get the most for your money.

Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I'm not so careful about the content of the present, but I'm very careful about the cost.

Then, I can spend somebody else's money on myself. And if I spend somebody else's money on myself, then I'm sure going to have a good lunch!

Finally, I can spend somebody else's money on somebody else. And if I spend somebody else's money on somebody else, I'm not concerned about how much it is, and I'm not concerned about what I get. And that's government. And that's close to 40% of our national income.
econlog.econlib.org
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