All subsidy measures, all schemes to redistribute income…
“All subsidy measures, all schemes to redistribute income or to force Peter to support Paul, are one-eyed as well as shortsighted. They get their immediate appeal by focusing attention on the alleged needs of some particular group of intended beneficiaries. But the inevitable victims - those who are going to be asked to pay for the new handout in increased taxes (which directly or indirectly means almost everybody else) - are left out of account. Only one-half of the problem has been seen. The cost of the proposed solution has been overlooked.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Policies that target specific groups often ignore broader fiscal impacts, leading to hidden costs for the majority.
In simple terms: Targeted subsidies can hurt the many.
Key Takeaway
Consider full economic consequences before supporting subsidies.
Themes
economics
public policy
taxation
redistribution
shortsightedness
Mood
critical
analytical
Type
explanatory
philosophical
When to use this quote
- budget planning
- tax reform
- social welfare programs
- public debate
Key Concepts
externalities
opportunity cost
political bias
Questions to Reflect On
- What hidden costs arise from well‑intentioned subsidies?
- How can policymakers balance targeted aid with overall fiscal health?
A Different Perspective
May underestimate short-term political gains of such measures.