Economists have a handy term called “revealed preferences”. In colloquial English it means “look at what people do, not what they say, and certainly never take notice of what they say others should do”.
Now, you can’t help but notice that there is a disparity between those who say that taxes should be higher and those who act as if they should be. Clearly, an individual who really believes that the Government is more effective at spending his money would voluntarily offer up more than the legal minimum of taxation. That we have fewer people acting in this manner than are to be found writing columns and making speeches calling for higher taxation shows a certain gap, does it not, between public utterances and private actions? Why, we could make such donations a litmus test for those believers in higher taxation and state spending who want to compel all of us to pay more. Only those who show their commitment by sending a cheque to the Treasury should be treated seriously.
Cheques, by the way, should be made out to “The Accountant, HM Treasury”, and sent to 1 Horse Guards Road, London SW1A 2HQ. A 2nd-class stamp is sufficient and you are encouraged to add a covering note so that your donation is spent in the way you like.
Tim Worstall, “Show us your cheques”, Times of London, quoted in Continental Telegraph, 2020-05-07.
August 9, 2020
QotD: The economic concept of “revealed preferences”
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