A Quote by P. T. Barnum
A penny here, and a dollar there, placed at interest, goes on accumulating, and in this way the desired result is attained. It requires some training, perhaps, to accomplish this economy, but when once used to it, you will find there is more satisfaction in rational saving than in irrational spending.
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A penny here, and a dollar there, placed at interest, goes on accumulating, and in this way the desired result is attained.
'As a fraction of your tax dollar today, what is the total cost of all spaceborne telescopes, planetary probes, the rovers on Mars, the International Space Station, the space shuttle, telescopes yet to orbit, and missions yet to fly?' Answer: one-half of one percent of each tax dollar. Half a penny. I'd prefer it were more: perhaps two cents on the dollar. Even during the storied Apollo era, peak NASA spending amounted to little more than four cents on the tax dollar.
Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.
..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.
I don't think we are all irrational every time we fail to see through an argument in a book, but suppose it's true about you. You are still more rational than you think you are. You are irrational in a minor way - believing a misguided theory of the nature of rationality - but rational in a major way - you respond well to probabilistic evidence as you go through the day.
In reality, every time the government takes an additional dollar in taxes out of someone's pocket, it's a dollar that person will not be able to spend or invest. When government spending goes up, private spending goes down. There is no net effect. No wealth creation.
All "public interest' legislation (and any distribution of money taken by force from some men for the unearned benefit of others) comes down ultimately to the grant of an undefined undefinable, non-objective, arbitrary power to some government officials. The worst aspect of it is not that such a power can be used dishonestly, but that it cannot be used honestly. The wisest man in the world, with the purest integrity, cannot find a criterion for the just, equitable, rational application of an unjust, inequitable, irrational principle.
The value of a dollar is to buy just things; a dollar goes on increasing in value with all the genius and all the virtue of the world. A dollar in a university is worth more than a dollar in a jail; in a temperate, schooled, law-abiding community than in some sink of crime, where dice, knives, and arsenic are in constant play.
Spending an extra dollar on the D.C. public school system isn't spending an extra dollar on education. Spending an extra dollar with the Pentagon doesn't buy you an extra dollar on defense. Republicans need to look skeptically at military spending.
Our economy is the result of millions of decisions we all make every day about producing, earning, saving, investing, and spending.
There's no evidence whatsoever that men are more rational than women or that men are more willing to surrender their irrational beliefs. Both sexes seem to be equally irrational.
Trillions of dollars are being spent in the name of 'saving' the economy: bailouts, 'stimulus,' omnibus spending bills, budgets, government takeovers of the auto, health care and energy industries, all of which require ever more spending.
The techniques of kitsch, which are based on imitation, are rational and operate according to formulas; the remain rational even when their result has a highly irrational, even crazy, quality.
It doesn't sound rational for a Klansman to sit down to dinner with a black man. What you're overlooking is, to be racist is to be irrational. So, they are already irrational, and irrational people do irrational things. That's why a Klansman will sit down with me.
In the budget, the president will call for a five-year freeze on discretionary spending other than for national security. This will reduce the deficit by more than $400 billion over the next decade and bring this category of spending to the lowest share of our economy since Dwight Eisenhower was president.
If you simply announce that things are irrational, then that alone doesn't get you very far. You have to replace rational agents with some concrete notion of what it means to be irrational.
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