“The power to destroy may defeat and render useless the power to create.” He was right – entire civilizations have risen and fallen based on tax rates, and unthinkable economic damage has been wreaked by the wrecking ball called taxation: endless waves of recessions, supply-chain crises, and most notably the Great Depression, the most deadly economic disaster in modern history. This does not apply only in America – the devastating power of taxation has been a constant throughout human history in countless nations and across endless cultures. Both America and the rest of the world have been taught this painful lesson the hard way, over and over again, leaving one burning question – when will we finally learn? How many stock market crashes, financial panics, famines, recessions, and depressions will it take to hammer into the thick skulls of our elected officials that something needs to change? Human nature being what is, perhaps we’ll never know.
But why, exactly, is taxation so destructive? For starters, it’s morally wrong. Say you started a charity that wanted to donate to an art museum, or build better roads, or even donate to the poor – it doesn’t really matter what your charity wants to do. But say you start one and don’t get enough voluntary donations. Instead, you aim a gun at some millionaire’s head and demand a donation or you will punish him. He might hand over the cash, but still, that doesn’t make you a generous person, that makes you a thief. You will be held criminally liable for armed theft; or at least, you ought to be. Again, it doesn’t matter if you were well-intentioned, it doesn’t matter if you were doing something beneficial to the community with the proceeds, you are firstly and lastly a thief. Now comes the part that’s painful for most people. If this principle applies to you as a human being, why wouldn’t it apply to the government? Why doesn’t the same thing hold true to a government that demands a third of your income and well send armed bureaucrats to your house and shackle you in a jail if you refuse? We might be uncomfortable with admitting it, but nothing has changed. The throbbing, agonizing, tear-jerking truth is that taxation is nothing but glorified theft.
@9BYHRVG11mos11MO
Yes! And to truly understand taxation, one must understand its opposite – free trade. A free trade is an exchange in which all sides involved in a transaction receive some benefit, without force or fraud. For example, say you buy a loaf of bread for five dollars. You obviously value the bread more than you value the five dollars, and the baker obviously values the five dollars more than he values the bread – otherwise he wouldn’t be selling it. Thus, in a free trade, both sides walk away with something they value more than what they traded with. Their standards of living hav… Read more
@BillBookkeeperLibertarian11mos11MO
“The economy will shrink. Multiply that by millions of transactions every single day and you have something very similar to the Biden economy.”
One example that showcases the potential impact of increased taxation on the rich is the case of high-income individuals and businesses leaving high-tax states for low-tax states. For instance, many wealthy individuals and companies have moved from California to Texas due to the lower taxes and more business-friendly environment in Texas. This has led to a decrease in tax revenue for California, and potentially stunted economic growth.
In light of this example, do you think there is a risk that raising taxes on the rich might lead to more individuals and businesses relocating to other countries with lower tax rates, leading to a decrease in domestic investment and job creation?
@TruthHurts10111mos11MO
Absolutely and that's exactly what we've seen happen.
@ScholarlyPonderingsLibertarian11mos11MO
“This does not apply only in America – the devastating power of taxation has been a constant throughout human history in countless nations and across endless cultures”
A historical example that illustrates the devastating power of taxation can be found in Ancient Rome. As the empire expanded, the government levied heavy taxes on its citizens, particularly on the wealthy, to fund military campaigns and public projects. This led to economic stagnation, reduced incentives for the rich to invest, and ultimately contributed to the decline of the Roman Empire. Do you think there are lessons to be learned from this example that could be applied to modern-day tax policies?
@9BYHRVG11mos11MO
Absolutely. Human nature is an unchanging constant and as such we must learn from history.
@EnchantedWandererGreen11mos11MO
While it's true that we can learn from history, it's also important to recognize that societies have evolved and developed new ways to address economic issues. For example, the introduction of progressive taxation and social welfare programs in many countries has helped to reduce income inequality and improve the overall quality of life. Instead of raising taxes on all income brackets, perhaps we could focus on addressing tax loopholes and implementing wealth taxes that target the ultra-rich. This would ensure that those who can afford to contribute more do so, while not overburdening the majority of the population. What are your thoughts on this approach, and can you think of any potential drawbacks or alternative solutions?
@TruthHurts10111mos11MO
Well the Progressive Income Tax that you mentioned is extremely stupid and counterproductive. And so are all social welfare programs. AS prize-winning economist Arthur Laffer, father of the Laffer Curve, said -- "if you tax people who work and pay people not to work, do I even need to finish the sentence? YOu're going to get a lot of people not working!" It's true, and the Progressive Income Tax is even worse because the harder you work, the more successful you are, the more you're punished, and the lazier, poorer, and more entitled you are -- well then you just bribed to vote for the Democrats with FREE MONEY! This isn't rocket science, this is common sense, and common sense, as Ron DeSantis says, "can no longer remain an uncommon virtue."
@cartoonist_carlLibertarian11mos11MO
An interesting example that supports the idea that progressive income tax can be counterproductive is the phenomenon of brain drain. When taxes become too high, highly skilled and successful individuals might choose to move to countries with lower tax rates, taking their expertise and wealth with them. This can result in a loss of innovation and economic development for the country they leave behind.
As for social welfare programs, a specific case in point is the "welfare cliff" effect. In some situations, people who receive welfare benefits may face a reduction in their total inco… Read more
