How to Starve the Washington Beast

How to Starve the Washington Beast by Bill Bonner – Bonner and Partners

POITOU, FRANCE – You’ve heard us say more than once: We’ve never met a tax cut we didn’t like.

But we never met a tax cut like the one Team Trump is now proposing…

The idea of a tax cut is to let people keep their own money. They spend, they invest. They do not waste money on boondoggles and bamboozles, like the government does.

Instead, they do win-win deals that move the economy forward. We don’t necessarily get what we want, but we get what we deserve.

How Government Works

Our first career was in the public interest sector.

We joined a conservative pro-taxpayer advocacy group called the National Taxpayers Union. It was a tiny, hole-in-the-wall organization – so small we quickly rose through the very thin ranks to become its executive director… at 26 years old.

That experience was instructive; from it, we got our distrust of Washington and our abiding cynicism towards politics.

The government doesn’t function the way most people think. And it certainly doesn’t function the way it is described in the high school civics books.

As the great Italian economist Vilfredo Pareto explained back in the 19th century, it doesn’t matter what you call your government or what you put on paper in terms of a constitution.

What happens is this: Smart people – Pareto called them the “foxes” – go where the power is. They figure out how to control it… and how to use it for their own benefit.

The few find ways to exploit the many, in other words. That’s how government always works.

Same Old Hustle

Few people had any illusions about it in the days of the Pharaoh or the Roman Empire… or in the era of kings and queens.

Rulers had whips in their hands; they didn’t mind laying the lash on the backs of their subjects.

But at least the latter knew where they stood. They understood, too, that they should hide their wealth when the tax collectors came knocking… and make themselves scarce when the feds needed soldiers.

Then, with the rise of democracy, it became harder to see what was really going on. The nature of government became hidden in myth and balderdash.

“We” elect our leaders, is the popular delusion; they do what “we” want.

We have a government “of, by, and for the people,” is how President Lincoln put it, after killing a half million of them.

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Bonner and Partners

Bill Bonner founded Agora Inc. in 1978. Since then, it has grown into one of the largest independent newsletter publishing companies in the world. Bill also co-wrote two New York Times bestselling books, Financial Reckoning Day and Empire of Debt, In his latest book, Hormegeddon, Bill describes what happens when you get too much of a good thing in the sphere of public policy, economics and business. This new newsletter is unlike anything else published in America today. Now in this industry, Bill Bonner has agreed to share his secrets and insights every month. It’s like having a super-wealthy uncle share his best ideas, insights and wisdom about business, relationships, investments, trends, developments, ideas and more.