John Wayne: Indirect Inflation Tax
on Sunday, December 11, 2022Meaning of John Wayne Money Quote: saying Government doesn’t have inherited money, it must collect that cash from the citizenry, either by taxes or inflation. John Wayne said:
“Government has no wealth, and when a politician promises to give you something for nothing, he must first confiscate that wealth from you — either by direct taxes, or by the cruelly indirect tax of inflation” — John Wayne
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John Wayne is warning about the false promises of politicians who claim they can provide benefits without cost to citizens. The quote suggests that whenever a politician vows to give something for free, they are actually taking wealth from the people in order to pay for it, either through direct taxation or by devaluing the currency through inflation.
Wayne implies that government has no resources of its own, so any programs or handouts must be funded by confiscating wealth from taxpayers. Overall, the message is a skeptical view of politicians making things seem like “something for nothing,” when in reality citizens end up footing the bill through taxes or inflation that diminishes their purchasing power.