Government Employees Should Not Be Taxedby Michael Suede
May. 01, 2012
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One of the things I find to be humorous about mainstream economics is the inclusion of government spending in the GDP metric. When government spending is included in this metric, it makes the assumption that government spending adds to the real wealth of the nation. Since “real” wealth translates into actual material goods and services that benefit humanity, which have been produced under the guidance of a profit and loss test by consumers, there is hardly anything the government does which meets the criteria of new “real” wealth creation. In the same vein, the taxation of income that comes from government jobs hides the destruction of wealth that is occurring when government spends money. So let’s go over a few examples to demonstrate my point.