No extensive notes for this one, I just keep seeing people shilling for this idiotic unrealized gains tax, and I felt compelled to say something.
As Bastiat tells us, it’s not just the immediate effects of a policy we should look at, it’s the longer-term and more subtle effects that we must understand before we implement it.
There are those who will make themselves willfully blind to ensure their viewpoints cannot be challenged. These people forget how important it is to consider secondary effects from any policy choice.
The good analyst, the good economist, looks at the long-term effects on groups that a policy indirectly affects as well as the direct, intended effects.
And subjugating liberty toward safety is a hole with no bottom.