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Monday, March 15, 2004

The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production. Total real wealth and income is made smaller than it otherwise would be. On net balance there is more poverty rather than less.

-- Henry Hazlitt, The Conquest of Poverty [1973]

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