Comment 61562

By A Smith (anonymous) | Posted March 25, 2011 at 20:12:53 in reply to Comment 61559

Lowering taxes on resources increases the margins of producers and thus makes it easier to invest in new products and counter market competition...

http://thebusinessofmining.com/2010/12/03/technological-risk-in-mining-biotech-replacing-potash/

If the government takes the money from potash producers and spend it on freebies, the cost of that may be the loss of jobs in the future.

That's what people need to understand about government, it is very bad at creating wealth and very good at wasting money. It is this way, because it doesn't have to worry about the future. In it's mind, it can always just raise taxes.

It's not unlike giving your immortal cousin the keys to the car when on a family trip.

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