Upon listening to the recent Democratic debate it occurred to me that if Marx, Lenin, Castro and Che Guevara were in the debate they would sound much the same as these candidates. Their unifying theme is hostility towards the rich and raising taxes. Several of them despise capitalism and free markets. Most of all they want to get their hands on the money that affluent people have. If any of them become president, it will be an orgy of tax gouging and anti-business initiatives. Bernie Sanders is calling for a revolution and tax rates exceeding 90%.
The great Austrian economist Ludwig von Mises explained it this way: “Nothing is more calculated to make a demagogue popular than a constantly reiterated demand for heavy taxes on the rich. Capital levies and high income taxes on the larger incomes are extraordinarily popular with the masses, who do not have to pay them.”