The Roman republic fell, in part, because of a feedback loop between voters who demanded their politicians provide them with free stuff in exchange for their votes, and a political class who fulfilled those demands in exchange for power.
Once either or both achieve a critical mass the runaway condition drags everything else down with it.
Recently, the USA achieved a situation in which the people who are net consumers of taxes can and probably will outvote those who are net payers of taxes.
Return to your seats, fasten your seat belts, and prepare for a bumpy ride.
The Roman republic fell, in part, because of a feedback loop between voters who demanded their politicians provide them with free stuff in exchange for their votes, and a political class who fulfilled those demands in exchange for power.
ReplyDeleteOnce either or both achieve a critical mass the runaway condition drags everything else down with it.
Recently, the USA achieved a situation in which the people who are net consumers of taxes can and probably will outvote those who are net payers of taxes.
Return to your seats, fasten your seat belts, and prepare for a bumpy ride.