Richard W. Rahn, The Washington Times, July 9, 2018, p. 22

It is also well known that as government spending grows as a percentage of national income, it tends to both discourage personal responsibility for one’s economic well-being and becomes less efficient in how it is used, eventually resulting in negative economic growth (such as being experienced in Venezuela at the moment).

The historic and modern-day socialists live in a fairy-tale world where they think people will produce as much at a 90 percent tax rate as they will at a 20 percent tax rate, and where all government programs are administered with great competence, efficiency, and honesty. This never happens. So in democracies, the people finally get fed up and throw out the big-government types — the Thatcher revolution in the U.K. in 1979 being a prime example.

Many socialists, once having obtained power, even if by democratic means, claim the right to never allow a reversal. Continue reading