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

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.

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.

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

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

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.

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.