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
What this quote means
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.
Themes
GovernmentTaxesSpendingEconomicsTaxpayer
In practice
Example use cases
In a financial planning seminar discussing government budgets and taxation.
More from Margaret Thatcher
All quotes →Never in the history of human credit has so much been owed.
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The battle for women's rights has been largely won.
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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.
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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.
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If it's me against 48, I feel sorry for the 48.
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