Tuesday, December 29, 2009

Quote of the year....for next 40 years

In Time's year end issue interview with Ben Bernanke, Chairman of the Federal Reserve Board, when asked if he was in favor of a law adding a value added tax responds thusly:

"....the one law I strongly advocate is the law of arithmetic. The law of arithmetic says that if you are a low-tax person, then you are responsible for finding ways of saving on expenditure so that you don't have enormous imbalances between revenues and spending. And by the same law of arithmetic, if you are somebody who believes that government spending is important, and you are for bigger programs, then it's incumbent upon you to figure out where the revenues are going to come from to meet that spending."

No comments:

Post a Comment