If Deficits Don't Matter, Why Bother With Taxes?

Pair these facts—no detail too small for the social engineers and their ability to achieve near-universal obedience via fines and subsidies—and we risk a totalitarian “permissioned” society where we are free on paper, but using that freedom comes with ruinous fines.

If, indeed, the only remaining justification for taxes in an inflationary regime is to redistribute and punish—to erode social harmony in a fiscal war of all against all while impoverishing society and enabling a creeping totalitarianism—then it is much closer to the mark that modern taxes have become not the price of civilization, but the predator of civilization.

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Peter St. Onge blogs on economics at Profits of Chaos.

Mises Institute is a tax-exempt 501(c)(3) nonprofit organization. ...

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