Wednesday, September 22, 2021

Taxing rich discourages productivity

(My Eastern New Mexico News column for September 22, 2021)




Tax the rich? It sounds like a great idea... to people without a grasp of economic reality. For the rest of us, it looks like national economic suicide.

If you punish people for being productive, you'll discourage productivity. Yes, there are some people who would keep working hard to create value even if the IRS keeps stealing it, but many would throw in the towel and live on the bare minimum they are allowed to keep. They wouldn't start businesses to benefit society or to employ people. They wouldn't buy luxuries that people create, build, and sell to rich people. There's no faster way to cripple the economy-- other than a pandemic shutdown...read the rest...

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