We think Ronald Reagan’s comments work well with the Biden campaign. Higher taxes for most. More anti-competition regulation for many industries and subsidies for green energy.
Which begs the question. Do you honestly think politicians can spend your money better than you can?
As Nobel laureate Milton Friedman once said,
“You can spend your own cash on yourself – you have a great incentive to economise and get the best bang for your buck. You can spend your own money on somebody else, perhaps by buying your neighbour a present. Again, you will seek to economise; but you won’t care as much about getting good value for money. “You will, of course, want to get something the recipient will like – provided that it also makes the right impression and does not take too much time and effort…Then you can spend somebody else’s money on yourself. Imagine a lunch on an expense account: you will try and spend as much as you can get away with, with limited incentive to economise, but seeking to get the best possible meal for the price. Last but not least, you could spend someone else’s money on yet another person. You will have little interest in economising – and won’t care too much about getting the greatest value for money.“