Ayn Rand:

"The difference between a welfare state and a totalitarian state is a matter of time."

Her statement seems highly plausible.

A government money monopoly + moneyprinting seem to be inevitable dynamics of a welfare state;

When politicians are buying votes in exchange for promising benefits to the majority 51% of voters, funded by taxes and moneyprinting, we can expect a regulatory superstate to grow exponentially.

As the State develop strategies to keep and expand its power, using moneyprinting to rig the markets in its favor, while blaming the negative results on 'free markets', and when that market is rigged at its core by the money monopoly, as unfree as a market can be, the inevitable result of far-reaching regulations is a matching surveillance system that enforces those regulations.

Welcome to 1984, where free adult agency is replaced by a system of individual licenses controlled by central planners that can allow or disallow your everyday life decisions based on the whims of the year.