Mark Skousen Quotes

The income tax is flawed for a number of reasons - it discourages economic growth and encourages a bloated government.

Negative books can be bestsellers, but seldom classics.

The triumph of persuasion over force is the sign of a civilized society.

All workers, whether they are employed in the private or public sector, should avoid living 'paycheck to paycheck.' Studies show that every household wastes 10% or more of its salary or income on unnecessary expenditures or by not taking the time to shop for better prices. It's all a matter of proper budgeting.

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success.

Most of Marx's predictions have failed to materialize, and his labor theory of value and other ideas have been proven wrong. Marx failed to recognize the incentive system built into the capitalist model - consumer choice and the profit motive of the entrepreneur. The irony is that capitalism, not socialism or Marxism, that has liberated the worker from the chains of poverty, monopoly, war, and oppression, and has better achieved Marx's vision of a millennium of hope, peace, abundance, leisure, and aesthetic expression for the 'full' human being.

We shall never change our political leaders until we change the people who elect them.

The worst thing that can happen to an investor is to make money on his first trade; he thinks investing is easy

Today's political leaders demonstrate their low opinion of the public with every social law they pass. They believe that, if given the right to chose, the citizenry will probably make the wrong choice. Legislators do not think any more in terms of persuading people; they feel the need to force their agenda on the public at the point of a bayonet and the barrel of a gun, in the name of the IRS, the SEC, the FDA, the DEA, the EPA, or a multitude of other ABCs of government authority.

For those of us in the financial world, Black Friday has a strong negative connotation, referring to a stock market catastrophe.

It is business that generates the jobs, income and taxes that keep a country going.

You can judge a man by the books in his library.

In the early 1980s, I burned my Social Security card at the New Orleans Investment Conference in protest of the state pension system.

Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.

In a free society, individuals have the right to do right or wrong, as long as they don't threaten or infringe upon the rights or property of others.

Contrary to what President Obama said in his inaugural address, going on Medicare and food stamps does not strengthen us. Just ask people who are fourth-generation welfare recipients.

The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.

No one spends someone elses money as carefully as he spends his own.

I am tired of the constant demonizing of people via political labels.

Banking technology has made it simple and efficient to invest in good causes.

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure.

I have on my bookshelf a series of books with opposite titles: 'The Alpha Strategy' and the 'Omega Strategy'; 'Asia Rising' and 'Asia Falling'; 'Free to Choose' and 'Free to Lose'; 'How to Win Friends and Influence People' and 'How to Lose Friends and Alienate People.' Visitors love the collection.

Here in America, government began as a tool to assure freedom. It gradually turned into a hideously expensive political toy designed to redistribute your wealth and control most aspects of your business and private life.

Gold and Silver have always had value, never gone to zero. Can you say the same for stocks and bonds?

I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.

The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.

Fraud is common when you give away billions. Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, 'Girls Gone Wild' videos, and at least one sex change operation.

Bitcoin is not an actual physical coin, and if computers are shut down, you can't buy or sell them. That's why nothing will ever replace gold and silver coins themselves, and all investors should have them at home or in a safe deposit box.

Bill Gates and Warren Buffett have their 'Giving Pledge,' where billionaires promise to give away the majority of their wealth when they die. My Social Security Pledge is better - to give money to good causes when you are alive. Besides, more Americans can participate.

In short, my vision of a responsible free society is one in which we discourage evil, but do not prohibit it. We make our children and students aware of the consequences of drug abuse and other forms of irresponsible behavior. But after all our persuading, if they still want to use harmful drugs, that is their privilege. In a free society, individuals must have the right to do right or wrong, as long as they don't threaten or infringe upon the rights or property of others. They must also suffer the consequences of their actions, as it is from consequences that they learn to choose properly

One suggestion my wife and I have used in our personal finance courses we teach at college is simply writing down all expenditures and seeing where the money goes. That alone will cause heads of households to think twice about x, y or z expenditure, and to consider carefully whether they really need something or not.

The media simply does not understand Econ 101.

I find it ironic how New York City Mayor Mike Bloomberg is so focused on such small issues as drink sizes, while ignoring the massive infrastructure challenges in New York - lousy roads, third-world airports, traffic jams, etc.

The profit motive promotes economic growth by creating better products at cheaper prices.

Donating money to a few of my favorite free-market organizations used to be a pleasant duty, but now I'm literally inundated with demands from hundreds of think tanks and public-policy groups, all vying for my limited funds

When everyone is a contrarian, nobody is a contrarian

If you are wealthy enough, use part or all of your Social Security proceeds to invest in a favorite cause or two. Invest 10 percent or 100 percent of your monthly Social Security check in your favorite charity, foundation, think tank, church or synagogue, or other good cause.

Even though I've reached retirement age, I still plan to work - writing my investment newsletter, speaking at conferences, publishing books, and producing conferences like FreedomFest.

Gold is as steady as a rock, a standardbearer by which all currencies can be accurately measured.

I only have disdain for New York City Mayor Michael Bloomberg. He raised taxes and has increased regulations. What else is new? He's a bully who wants to micro-manage people's lives by mandate, not persuasion.

Balance in life is the key, as Aristotle taught us. Nobody likes a naive Pollyanna, but neither do we like to be around people who are constantly complaining and finding fault.