Limits of Taxation

This article in the Times of London is an interesting take on taxation vs. spending.  The author's thesis is that government expenditures must produce a return to the public that is greater than the cost of taxation.  In the case of the UK, he argues that their rate of taxation and expenditure is far beyond any reasonable economic test.

Our US fiscal policy should be examined in this light.  Many of our expenditures fail this test.