Edited sentence: He wrote:.It destroys wealth by not letting these vehicles be used up over their useful life.It destroys wealth by routing scarce resources into activities--in this case, auto construction--that would not otherwise take place, denying other industries access to those resources.It destroys wealth by taking on liabilities, through borrowing, that have to be paid back later by the taxpayers (reducing their purchasing power in the future) or by taxing them immediately (reducing their purchasing power today)