Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“The advancement and diffusion of knowledge is the only guardian of true liberty.”     James Madison

August 14, 2007

John Stossel Speech on Economic Liberty at the Fair Tax Rally

by Stephen Littau

John Stossel is one of the few journalists in the MSM who really understands how and why capitalism works and why socialism does not. In this speech at this Fair Tax rally held on May 15, 2007, Stossel asks the question: “Why is America prosperous?” His answer: economic liberty. Even if you are not a supporter of the Fair Tax, if you believe in economic liberty, you will enjoy this short speech.

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  1. Love that John Stossel. If people would only pay more attention to what he says.

    Comment by TanGeng — August 14, 2007 @ 6:30 pm
  2. I’ve always been a fan of Stossel. He’s done some good work on school choice systems (i.e., vouchers) and I rarely disagree with him on other issues. However, the Fair Tax might be one of those issues.

    The Fair Tax proposal doesn’t decrease overall taxes collected, which in turn does nothing to reduce the size and scope of gov’t — however, I admit that it does reduce the scope some, but only in that I would no longer be required to disclose my earnings to them.

    While I feel the FT is better than the current system, I think it misses the point entirely when it comes to downsizing D.C. (term stolen from

    Comment by Isaac — August 15, 2007 @ 9:55 am
  3. [...] Liberty papers brings us a speech by ABC’s John Stossel on the Fair [...]

    Pingback by Carnival of Fair Tax Supporters V | Blog for Cox: The Official John Cox Campaign Blog — August 19, 2007 @ 5:44 pm
  4. Isaac, your point is well-taken by most FairTax’ers. Passage of the FairTax is eliminates the power and distractions built into the present system. Remove the negatives, and you’ll have a re-energized, re-focused electorate that will understand the system. THAT FACT ALONE means the end of poltical “divide and conquer” mentality that politicians cherish – pitting poor against rich – which is DONE AWAY WITH under the FairTax. (Since the “prebate” untaxes ALL poverty-level spending, citizens will never pay the full amount of the tax; visitors and illegals WILL pay the full rate; and as citizens increase their spending, they’ll naturally pay more for gov’t. Spending – which is to say, ENJOYING WEALTH – is a simple, NON-ARGUABLE measure of the extent to which those receiving from the system, in turn, support that system that has brought them wealth. THE LOSERS, under FairTax, are POLITICIANS, LOBBYISTS, and the “SUPER BANKERS” – owners of the large money banks, member owners of the FEDERAL RESERVE.) Can anyone say: END OF TAX SLAVERY? Join this effort at:

    Comment by Ian — August 19, 2007 @ 8:43 pm

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