When will Labour learn that you cannot build Jerusalem in Brussels.
Margaret ThatcherRead
Let us never forget this fundamental truth: the State has no source of money other than money which people earn themselves. If the State wishes to spend more it can do so only by borrowing your savings or by taxing you more. It is no good thinking that someone else will pay - that 'someone else' is you. There is no such thing as public money; there is only taxpayers' money.
Interpretation
Government finances are ultimately funded by the earnings of individuals and taxpayers, not by an external source.
Margaret Thatcher emphasizes that the money used by the State originates from its citizens through taxes and personal earnings. She highlights the misconception that government spending is independent of individual contributions, making it clear that any financial expenditure by the government directly affects taxpayers.
In practice
In a financial planning seminar discussing government budgets and taxation.
When will Labour learn that you cannot build Jerusalem in Brussels.
Never in the history of human credit has so much been owed.
The battle for women's rights has been largely won.
Ought we not to ask the media to agree among themselves a voluntary code of conduct, under which they would not say or show anything which could assist the terrorists' morale or their cause while the hijack lasted.
Israel must never be expected to jeopardize her security: if she was ever foolish enough to do so, and then suffered for it, the backlash against both honest brokers and Palestinians would be immense - 'land for peace' must also bring peace.
If it's me against 48, I feel sorry for the 48.
Unless we understand what it is that leads to economic and financial instability, we cannot prescribe -- make policy -- to modify or eliminate it. Identifying a phenomenon is not enough; we need a theory that makes instability a normal result in our economy and gives us handles to control it.
We plutocrats need to get this trickle-down economics thing behind us: this idea that the better we do, the better everyone else will do. It's not true. How could it be? I earn 1,000 times the median wage, but I do not buy 1,000 times as much stuff, do I?
Economic systems are not value-free columns of numbers based on rules of reason, but ways of expressing what varying societies believe is important.
The laws and conditions of the production of wealth partake of the character of physical truths. There is nothing optional or arbitrary in them ... It is not so with the Distribution of Wealth. That is a matter of human institution solely. The things once there, mankind, individually or collectively, can do with them as they like.
On the market, all is harmony. But as soon as intervention appears and is established, conflict is created, for each may participate in a scramble to be a net gainer rather than a net loser - to be part of the invading team instead of one of the victims.
Wall Street has turned the economy into a giant asset-stripping scheme, one whose purpose is to suck the last bits of meat from the carcass of the middle class.
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