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To be fair, the article wasn't advocating the taxing of capital. It was advocating the taxing of income. Also, money never just "disappears" from the economy u
by witten 18y ago
To be fair, the article wasn't advocating the taxing of capital. It was advocating the taxing of income.
Also, money never just "disappears" from the economy unless you destroy it. Who do you think buys the goods and/or services that your rich capitalists create, thereby enabling them to make new jobs and new products? In large part, it's the poor people. Or at least, the somewhat poorer people.
- ivankirigin 18y agothe is dead weight loss in the collection of taxes. A great deal of money is spent on projects that don't improve things or on things like servicing the debt. Money is destroyed all the time.
- nazgulnarsil 18y agoprecisely. we can't forget that money is just an abstract representation of the productivity of people. It is constantly created as things people want are produced and destroyed as those things are consumed.