Home > Economics > >Tax the rich

>Tax the rich

>Here’s a great video from the Cato Institute giving just 5 reasons why taxing the rich is a crap idea.

The video uses an argument I’ve employed against my left wing, economically illiterate (I know, I know, it’s tautologous) mates. They want to use taxation to reduce a person’s consumption of alcohol or cigarettes but then aren’t able to make the connection that taxing productivity will have exactly the same effect – there’s less of it.

The economy destroying emissions trading scheme currently being debated in Australia works on the same principle. Use the tax system (or a credit system, which is the same thing) to reduce output of CO2.

More tax. Less whatever.

Tax productivity. Less productivity.

It’s not too hard to understand, surely?

(Nothing Follows)

Advertisements
Categories: Economics
  1. June 18, 2009 at 5:11 pm

    >Evidently they listened to too much rock in the 60's "Tax the rich, feed the poor, until there are no rich no more…."One question, once the rich are gone, who pays for everything?Answer: the rest of us

  2. June 19, 2009 at 2:24 am

    >I can't believe they had a 73% tax rate on the rich, poor erm I mean rich, no actually poor bastards.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: