DESTROYING WEALTH
High taxes destroy wealth. Low taxes create wealth. When entrepreneurs keep more of what they earn it enables them to innovate and market thus expanding their enterprises and creating jobs, profits and wealth. Liberals heavily promote high taxes that are little more than a form of wealth confiscation. The pro-capitalist thinker Andrew Galambos (1924-1997) criticized it this way: “People who make more are taxed more. That’s being punished for being more productive. If you don’t do anything, if you’re just a bum, why, you can go on relief. You get something for nothing. That’s a violation of rationality and morality in the short run too. The less you do, the more you get. The more you do, the more you’re punished. That’s a fine standard for a culture! The most productive people are punished the most for being productive; the ones who produce the least are rewarded. Now, if I tried to design an irrational structure of a society, this is exactly what I’d pick.”
