Implosion of Free Stuff - A Historical Perspective: Democracies self-destruct once a less-productive majority realizes that it can vote itself handouts from the productive minority by electing candidates promising the most benefits from the public treasury. To maintain their power, these candidates adopt an ever-increasing tax and spend policy to satisfy the ever-increasing desires of the less-productive majority. As taxes increase, incentive to produce decreases, causing many of the once productive to join the less-productive. When there are no longer enough producers to fund the legitimate functions of government and socialist programs, the democracy will collapse, historically followed by a Dictatorship. History repeats itself.
Posted on: Mon, 03 Feb 2014 12:55:43 +0000
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