We have retained the forms and phrases of a republic, but in reality we are living under an oligarchy, not of courtesan, but of bureaucrats.

Since the State thrives on what it expropriates, the general decline in production that it induces by its avarice foretells its own doom. Its source of income dries up. Thus, in pulling Society down it pulls itself down. Its ultimate collapse is usually occasioned by a disastrous war, but preceding that event is a history of increasing and discouraging levies on the marketplace, causing a decline in the aspirations, hopes, and self-esteem of its victims.

The more subsidized it is, the less free it is. What is known as 'free education' is the least free of all, for it is a state-owned institution; it is socialized education - just like socialized medicine or the socialized post office - and cannot possibly be separated from political control.

Private capitalism makes a steam engine; State capitalism makes pyramids.

Posterity does not pay off anything of the national debt. Each administration adds to the debt left to it, and the promise of liquidation implied in every bond issue is a false promise.

Popular suffrage is in itself no guarantee of freedom. People can vote themselves into slavery.

Income and inheritance taxes imply the denial of private property, and in that are different in principle from all other taxes. The government says to the citizen: “Your earnings are not exclusively your own; we have a claim on them, and our claim precedes yours; we will allow you to keep some of it, because we recognize your need, not your right; but whatever we grant you for yourself is for us to decide.