Source of Government Wealth

“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” ~ Frederic Bastiat (1801-1850) [Claude Frederic Bastiat] French economist, statesman, and author. He did most of his writing during the years just before — and immediately following — the French Revolution of February 1848. Source: “The Law” by Frederic Bastiat (1850)

Photo: Frederic Bastiat (Wikipedia Commons, license)

Tax Cuts

“Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve — and I believe this can be done — a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.” ~ John F. Kennedy (1917-1963) 35th US President Source: Dec. 14, 1962, address to the Economic Club of New York

Photo: John F. Kennedy (Wikipedia Commons, license)