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Pearls of wisdom

Nothing is more calculated to make a demagogue popular than a constantly reiterated demand for heavy taxes on the rich. Capital levies and high income taxes on the larger incomes are extraordinarily popular with the masses, who do not have to pay them.

Ludwig von Mises

One Comment

  1. Paul Marks says:

    Only in a corrupt civilisation.

    Sometimes (when they get a chance to do so) people vote AGAINST higher taxes on “the rich” – even though the voters are told they will not be paying these taxes themselves.

    Indeed seeing whether most people support “higher taxes on the rich” is a classic test to see whether a place has become corrupt.

    And the moral corruption of supporting “higher taxes – as long as they are on someone else” also, of course, has a direct economic effect.

    Higher taxes on capital (contrary to the Communists and to the “libertarian” left) also hurt the poor – they do so by undermineing the economy.

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