chapter  29
8 Pages

The Limitations of Tax Limitation

WithMILTON FRIEDMAN

The first victory for those who believe that government does not have an open-ended claim on the incomes of Americans came in Tennessee three months ago (March 7, 1978) when the people of that state, by a two-to-one majority, approved an amendment to limit the “rate of growth” of state spending to the “estimated rate of growth of the state’s economy.”