I like to write about taxes now and then, especially on April 15th:

Taxes on rich hurt economy

Tax facts

Tax fairness

 

But today I’m not writing, I’m quoting. From the 2nd most influential book of all time (behind the Bible):

 

Public welfare’ is the welfare of those who do not earn it; those who do, are entitled to no welfare.

and

…through all the generations of political extortion, it was not the looting bureaucrats who had taken the blame, but the chained industrialists, not the men who peddled legal flavors, but the men who were forced to buy them; and through all those generations of crusades against corruption, the remedy had always been, not the liberating of the victims, but the granting of wider powers for extortion to the extortionists. The only guilt of the victims, he thought, had been that they accepted it as guilt.

and

…the man who damns money has obtained it dishonorably; the man who respects it has earned it.

and

If enjoyment is a value, why is it moral when experienced by others, but immoral when experienced by you?… Why is it immoral for you to desire, but moral for others to do so? Why is it immoral to produce a value and keep it, but moral to give it away?”

 

Think about the last question, in regards to the rich being taxed and the government giving it away.

 

Happy tax day.

 

PS If today (or Monday this year) is just another normal day for you, thank a rich person.

  • who has more to lose, both on an absolute and relative basis, if the US goes to shit?
  • landonswan
    Absolute: The wealthy.

    Relative: The Poor. The wealthy will be fine, they will always find a way to produce. They can sustain themselves. Their ability to produce will not stop. Those who produce nothing but rely on need justifying handouts will suffer the most, as the handouts will stop.
  • your ability to produce ends up getting hampered if nat'l defense or infrastructure fails.

    if we want to get even more cynical, i could argue that social safety nets are a put option for the wealthy so that any increases in poverty won't lead to political instability

    but let's not get into a johngaltcirclejerk when noone's politically ready to talk about cutting entitlements
  • landonswan
    Yes, ability to produce definitely gets hampered. But they will still be able to produce SOME. Handouts will END. So relatively, the non-producers are worse off.

    I like your put option theory. Interesting. And I agree we need to cut entitlements. Hopefully we can find a politician or two who isn't in it as a career. My hope in on Rand Paul, we'll see.
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