“A Revolt Of The Kulacks?”

Professor William Jacobson has an interesting post up at his Legal Insurrection blog.

I agree with the Professor, when you tax people too heavily they either quit producing or “vote with their feet.” England recently increased taxes on high earners to more than 50% – and has lost a high percentage of those former taxpayers to less greedy venues. Thousands of Americans renounce their citizenship each year, simply to keep a higher percentage of what they earn.

As the Professor says, more of nothing is nothing. So raising taxes in hopes that “the rich” will stand for very high tax rates is essentially setting the stage for mass emigration. And a mass flight of actual wealth.

There was really nowhere for the rich to go in 1948 so Roosevelt’s 91% tax rates were borne by Henry Kaiser and other nabobs and industrialists. As soon as Europe became a viable destination, those rates were reduced to more reasonable ones.

I suspect the Dimmocrats of today are about to learn the lesson the Democrats of 1952 learned. High taxes kill tax collections two ways. First, in the loss of the most productive taxpayers, and second, in the loss of the jobs those taxpayers provided.

But I do not know whether or not today’s “progressives” are numerate enough to consider that one third of something is more valuable than 99 percent of nothing.

Continue reading here: Vet Stands Up For Second Amendment At Chicago Pro-Crime Rally

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