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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% taxati
by 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 agoSure, but this would have been a business tax, paid effectively by capital, not an income tax.