In dealing with problems concerned with the economics of mobilization, it is first of all necessary to realize that fiscal policies have reached a turning point. In recent decades all nations have looked upon the income and the wealth of the more prosperous citizens as an inexhaustible reserve which could be freely tapped. Whenever there was need for additional funds, one tried to collect them by raising the taxes to be paid by the upper-income brackets. As the votes of these rich do not count much in elections, the members of the legislative bodies were always ready to increase public spending at their expense.
Business is other people's money.
Let the rich pay, was the slogan. Now this period of fiscal history has come to an end. No further funds of any significance can be collected from them. Henceforth all government spending will have to be financed by taxing the masses. The European nations concerned are not yet fully aware of this fact because they have found a substitute.