You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
Peter SchiffRead
Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.
Interpretation
The quote highlights how printing money can devalue currency and act like a form of tax on citizens.
Peter Schiff's quote emphasizes that when governments print money, they are effectively taking away the value of that money rather than directly taking it from citizens. This process diminishes the purchasing power of money, leading to inflation, which ultimately acts as a hidden tax on the public as they can buy less with the same amount of money.
In practice
This quote could be used during a discussion on economic policy and its impact on citizens.
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
Paper money has had the effect in your State that it ever will have, to ruin commerce, oppress the honest, and open a door to every species of fraud and injustice.
Tax breaks and other financial breaks that favor the wealthiest among us do not create greater prosperity for all; they simply siphon off more and more money to those who already have it, and more and more money away from those who do not.
The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.
The basis on which good repute in any highly organized industrial community ultimately rests is pecuniary strength; and the means of showing pecuniary strength, and so of gaining or retaining a good name, are leisure and a conspicuous consumption of goods.
You could not possibly maintain the current level of government taxation without the taxes being hidden, and they are hidden in two very different ways. They are hidden through withholding, but they are also hidden by being imposed on business, supposedly on business, when really, of course, business can't pay taxes, only people can pay taxes.
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