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Sure, but I don't think issues such as 'the socialization of the means of production' existed in the 18th century.

• CalChris 10y ago
  Adam Smith favored progressive taxation. The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state. Adam Smith, Wealth of Nations https://www.adamsmith.org/blog/tax-spending/adam-smith-and-progressive-taxation https://www.adamsmith.org/blog/tax-spending/adam-smith-and-p...
  • edblarney 10y ago
    I'm well aware. Progressive taxation is not socialism. Moreover, in his day, common taxes were very, very low. Nobody had ever conceived of 20% 50% 60% taxation. The plebes would riot with only a few % tax hike. The USA was born out of a tax revolt of a measely few % that was frankly needed, for the protection of their own trade.
    • duskwuff 10y ago
      > Nobody had ever conceived of 20% 50% 60% taxation. The plebes would riot with only a few % tax hike. First of all, that's not true. Taxes in the early modern period are estimated to have been in the range of 15-20% of overall production, and rose significantly during industrialization. But more importantly, most taxes in that period were typically assessed either as a fixed per-unit tax on the production or import of specific goods, or as a yearly fee for the possession of certain items. In this respect, they were quite different from modern income taxes -- it's hardly possible to compare them numerically.
      • edblarney 10y ago
        Sure, but this would have been a business tax, paid effectively by capital, not an income tax.