Liberty Quotes

"We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power." -- Alan Greenspan (1926- ) Chairman of the Federal Reserve Board of Governors (1987-2006) Source: appearing before the Senate Banking Committee on February 15, 2005, in response to Democratic Senator Jack Reed of Rhode Island on the topic of funding Social Security.
http://quotes.liberty-tree.ca/quote_blog/Alan.Greenspan.Quote.BE9E

"It would take little more than $50 billion to raise every poor person above the official poverty line, yet the percentage of the population classified as poor hardly budges, while annual welfare spending amounts to four times that much. Where's the money going?"-- Robert Higgs (1944- ) American economic historian, economist of the Austrian School Source: The Myth of "Failed" Policies, The Free Market, June 1995.
http://quotes.liberty-tree.ca/quote_blog/Robert.Higgs.Quote.5194

"If welfare and equality are to be primary aims of law, some people must necessarily possess a greater power of coercion in order to force redistribution of material goods. Political power alone should be equal among human beings; yet striving for other kinds of equality absolutely requires political inequality."-- Tibor Machan Source: Private Rights and Public Institutions
http://quotes.liberty-tree.ca/quote_blog/Tibor.Machan.Quote.4A01

"Inflation is taxation without representation."-- Milton Friedman (1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"
http://quotes.liberty-tree.ca/quote_blog/Milton.Friedman.Quote.3FDA

"Each peso [or dollar] is a contract between the government and the peso holder. That contract guarantees that each peso -- as a unit of value that the holder has worked hard to get -- will be worth as much tomorrow as today. If the government breaks the contract, it's breaking the law. The only role of government in the economy should be to guarantee the integrity of market transactions."-- Domingo Cavallo Finance Minister of Argentina
http://quotes.liberty-tree.ca/quote_blog/Domingo.Cavallo.Quote.F4BC

"Do not separate text from historical background. If you do, you will have perverted and subverted the Constitution, which can only end in a distorted, bastardized form of illegitimate government."-- James Madison (1751-1836), Father of the Constitution for the USA, 4th US President
http://quotes.liberty-tree.ca/quote_blog/James.Madison.Quote.060E