BANK NOTE - Common Sense Institute paints a dire portrait of Colorado’s economic future - The Villager

It’s a microcosm of what is wrong in Washington DC While revenue (tax income) continues to grow, the politicians in Denver continue to outspend tax revenue. Thus creating a deficit, resulting in more debt, that the tax payer will payoff with further reductions in personal, after-tax income. When government spends tax revenue on “good intention” projects, regardless of how needed the expenditures are portrayed, that money always comes from the tax paying citizen.

Eventually and inevitably excess government spending depletes personal income, severely harms the tax paying citizen and the private economy on which tax revenue depends. Government spending is self-limiting. In excess, that spending destroys Capitalism, free markets and the individual’s inalienable right to ownership of property (that for which he has worked.

). Therefore, excess spending is un-Constitutinal. This is a negative feedback loop that inevitably destroys individual freedom. In this way, through “good intentions”, the ever-larger government crowd defeats themselves and takes everyone down with them. We have seen this destructive loop throughout history.

Communism failed Russia. Fascism defeated Italy and Germany. Socialism failed Europe. These abject failures have one thing in common: An oppressive tax and spend government. Colorado just voted themselves another billion dollars in taxes so another government agency could revitalize the state. Really?

Be Honest: Who thinks that taking hard-earned money away from citizens, through progressive taxation, actually does any good? How has the war on poverty or on drugs, or revitalize Denver, been doing? Excess government spending is one of the most destructive forces in existence. Better, reduce taxation and government spending so that the individual can keep more of his wages (through less government, lower spending and less taxation) and let the individual decide where to spend his money.

Free enterprise and individual freedom are much better arbiters than giving your income (taxes) to a government bureaucrat who didn’t earn the money, but gets to spend it. As in life, excess leads to destruction. We have a Constitution that severely limits all government to a few, well-defined, powers.

It is up to the voting citizen, through elections, to limit our government to the Rule of Law, the Constitution. This is the way. Jay Davidson is founder and CEO of a commercial bank, a student of the Austrian School of Economics and dedicated capitalist. There is a direct connection between individual right and responsibility, our Constitution, capitalism, and the intent of our Creator.