August 27, 2017

Why The Rich Like High Taxes

Filed under: Business, Economics, Government, USA — Tags: , , , , — Nicholas @ 02:00

Published on 16 Aug 2017

When politicians raise taxes on the rich, what do the rich do to protect their $$$? This Prof. shows how high taxes actually made America less equal.

The Myth of Equality in the 1950s (video): Another myth of the 1950s is that there was economic equality. Prof. Brian Domitrovic explains why this is a myth. https://www.youtube.com/watch?v=wLl9wOivHdc
How Cronyism is Hurting the Economy (video): Prof. Jason Brennan explains why cronyism, like the tax cuts for certain businesses in the 1950s, is bad for the economy and argues why limiting the government’s power would help solve the problem. https://www.youtube.com/watch?v=gSgUENZ9O94
The Good Ol’ Days: When Tax Rates Were 90 Percent (article): Andrew Syrios compares the tax rates in the 1950s to those of the 1980s and today https://mises.org/library/good-ol-days-when-tax-rates-were-90-percent

For a full transcript please visit: http://www.learnliberty.org/videos/why-the-rich-like-high-taxes/


  1. Yup, taxes suck. And it would be so simple to use a low income exemption, and then a single flat tax that cannot be avoided. But that will never happen, because the rich (well to do) are the ones who typically run for office, and then use that power to create ways to stay rich, and help their friends… cronyism.

    Out political parties want fairness, but never try and apply it when in power. If you want a rich person to pay “their share” don’t make rules that allow them to hide income. Don’t have “capital gains” rules that exempt that investment as income. Don’t have special rules that designate certain types of incomes in different ways, and then apply lower taxes, all they while pointing at a tax table that doesn’t include all forms of remuneration.

    Simple, clean, and best of all, puts all those accountants and lawyers out of business! But, those are the people who fund politicians, eh.

    Comment by Dwayne — August 27, 2017 @ 15:05

  2. As you say, however, the people “we” elect are usually from the class that already benefits from all the special “accommodations” in the tax code for select cronies. They have roughly zero incentive to change the rules that they and their friends are already benefitting from, so changes may get discussed around election time, but rarely do they get past that and even more rarely are they implemented.

    Comment by Nicholas — August 28, 2017 @ 13:20

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