People Have More Money? Let’s Tax It!

John P. Cochran writes: As highlighted by David Henderson and Peter Boettke, markets and competition are like weeds, not delicate flowers. Economies recover even from severe boom-bust episodes and despite growth-retarding regime uncertainty. Even burdensome regulation, per Pierre Lemieux, causes a “slow-motion collapse” or stagnation, not a crash. But one thing can be counted on, as innovation or recovery begin to deliver additional spending power to the productive class of the economy, the “unmet needs” crowd will just as quickly be out clamoring for a heightened government share of the ‘bounty’ for some imagined greater public good.