America’s Economy

Why Joe Biden’s budget will bankrupt the United States.

The Roman Empire fell when the state could no longer obtain sufficient resources through taxation and was forced to debase its currency to raise revenue. The tax reforms of Diocletian in the third century were so draconian that many landowners were driven to bankruptcy, as those living off welfare became more numerous than those paying taxes. Historian Robert Adams summarizes this catastrophic state of affairs in his book “Decadent Societies”, saying that “by the fifth century, men were ready to abandon civilization itself in order to escape the fearful load of taxes.”

Read more at “America’s Economy: Going the Way of Rome”