Borrowing Quote by Margaret Thatcher
“Let us never forget this fundamental truth: the State has no source of money other than money which people earn themselves. If the State wishes to spend more it can do so only by borrowing your savings or by taxing you more. It is no good thinking that someone else will pay - that 'someone else' is you. There is no such thing as public money; there is only taxpayers' money.”
About This Quote
Source Speech: House of Commons, 1979
The government only has money it collects from taxpayers; any spending must come from borrowing or taxes.
In simple terms: State funds are taxpayers' money.
Key Takeaway
Demand fiscal responsibility.
Themes
economics
government
taxation
responsibility
Mood
serious
urgent
Type
political
educational
When to use this quote
- national budgeting
- policy debates
- tax reform
Key Concepts
public finance
budgeting
tax policy
Questions to Reflect On
- How can citizens ensure responsible spending?
- What alternatives exist to taxation?
A Different Perspective
Political pressures can distort fiscal truth.
![“[When asked how it felt to be a female prime minister:] I don't know: I've never experienced the alternative.” quote by Margaret Thatcher](https://sms4smile.com/quotes/img-quotes/324/margaret-thatcher-463_alternatives_when-asked-how-it-felt-to-be-a-female-pr_15081.jpg)
![“When the fountains of government [borrowing] abundance began to dry up, when through lack of funds and the impossibility of negotiating fresh loans the state was forced to check the extension of bureaucracy and to put a stop to public works, then and then only did the Italians realize what it…” quote by John T. Flynn](https://sms4smile.com/quotes/img-quotes/908/john-t-flynn-18493_abundance_when-the-fountains-of-government-borrowi_2663.jpg)
