Episode 8 Mine – Podcast – Letters from Cape Town – Available now.
In this episode, we examine the veracity of Progressive’s call to “tax the rich,” which proponents argue would give the government more spending power to improve health and education services. We learned that there is no zero-sum game as long as there are idle productive resources that can be brought to bear, and that if we want more B, we must sacrifice A. The currency-issuing government has no fiscal constraints. We should increase taxes on high earners, but not because the government needs their money. The reason is that if they have less money, then their ability to influence public debate by controlling the media, by funding think tanks and lobbying organizations, by funding political parties and all the other ways that people with a lot of money do is less. Cash can be thrown around to get what they want at the expense of many people.
Duration: 6:43
