Socialists have one big weapon they want to use to correct many of the economic ills that they see. They want to use taxes as a way to redistribute money from billionaires to those they see as needier. If you see significant inequities in the distribution of income, that seems like a reasonable approach to … Continue reading The Real Tax Burden
Month: March 2020
Socialist Billionaires
Yesterday I argued that, in a free-market, entrepreneurs become billionaires by giving three groups of people what they prefer over what they have to give up. 1) Investors get an ownership share in a successful enterprise, 2) Suppliers get money for the plant, equipment, and labor they provide, and 3) Consumers get goods and services … Continue reading Socialist Billionaires
Free-Market Billionaires
Bashing billionaires seems to have become quite popular these days. Most of the current Democrat candidates attack billionaires in one way of the other. Led by Bernie Sanders and followed by the rest of the candidates, including the two billionaires, they all want to tax billionaires in order to support their favorite causes. According to … Continue reading Free-Market Billionaires