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Posts Tagged ‘Uncle Sam’

Ludwig von Mises

From today’s LewRockwell.com article, The Duplicity of Warren Buffett, Eric Englund wrote:

Although far from legendary, Warren Buffett’s cognitive dissonance, regarding taxes, is maddening. On the one hand, he celebrates the Sixteenth Amendment and brags about the billions of dollars Berkshire Hathaway pays in federal income taxes – after all, Buffett is self-described as Uncle Sam’s “grateful nephew.” Yet, on the other hand, he basically refuses to lend money to Uncle Sam for fear that the federal government will pay back the loans with cheaper dollars; which is, as Ron Paul describes, the inflation tax.

What did Ludwig von Mises say about inflation as a tax?

People sometimes call inflation a special way of “taxing” a country’s citizens. This is a dangerous opinion. And it is wholly untrue. Inflation is not a method of taxation, but an alternative for taxation.

For more on Warren Buffett, see my article, Warren Buffett’s inconsistencies.

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