Home > Uncategorized > Tax-Loving Conservatives by Gary North (“Conservatives Are the Enemy They love taxes, tariffs, and badge-and-gun coercion in general. “)

Tax-Loving Conservatives by Gary North (“Conservatives Are the Enemy They love taxes, tariffs, and badge-and-gun coercion in general. “)

This may sound odd. Conservatives don’t love taxes. They want lower taxes. Right? They want lower taxes and smaller government.

I wish that were true. It isn’t.

Oil on canvas portrait of Alexander Hamilton b...

Oil on canvas portrait of Alexander Hamilton by John Trumbull (Photo credit: Wikipedia)

Alexander Hamilton was a crusader for higher taxes and a larger national government in the 1790s. He wanted higher taxes in order to raise money for a higher federal debt. He wanted higher federal debt because he wanted investors in government IOUs to commit to the survival of the United States. Free market economist Thomas DiLorenzo has summarized Hamilton’s position, which he accurately identifies as crony capitalism.

In a lengthy “report” to Congress on the topic of the public debt Hamilton said that “a national debt, if it is not excessive, will be to us a public blessing.” He would spend the rest of his life politicking for excessive government spending – and debt. The reason Hamilton gave for favoring a large public debt was not to finance any particular project, or to stabilize financial markets, but to combine the interests of the affluent people of the country – particularly business people – to the government. As the owners of government bonds, he reasoned, they would forever support his agenda of higher taxes and bigger government. (He condemned Jefferson’s first inaugural address and its minimal government message as “the symptom of a pygmy mind.”) No wonder one historian entitled his book on Hamilton American Machiavelli.

In 1791, he persuaded George Washington and then Congress to transfer to a group of private investors the right to set up a central bank that was not answerable to Congress or anyone else in government. The Bank of the United States had the right to create fiat money out of nothing, lend it to the government, and keep the interest paid by the government. This was the supreme institution of crony capitalism in America from 1791 to its expiration in 1811.

He was also a big supporter of tariffs. Tariffs raised the money the government needed to pay interest to the Bank of the United States, which was independent of the government of the United States. Tariffs were taxes favored by big-government conservatives. They still are…..

EXCERPT

via Tax-Loving Conservatives by Gary North.

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