Reply To: The Liberals' True Face

Home Forums In The News Democratic Underground The Liberals' True Face Reply To: The Liberals' True Face

#768599

My main complaint about the concepts of progressive taxes and redistribution of wealth is that they are based on the demonstratably false premise that the amount of wealth is limited and therefore, if some have less wealth it is because others have more. The fact is that wealth is increasing because people can create wealth. Per Adam Smith, in any mutually agreable exchange, total wealth increases, as follows: Reuven buys a car from Shimon for $3000. Total wealth is increased because both transactors have more wealth than they started out with, Reuven has a car that he wanted more than he wanted the $3000 and Shimon has the $3000 that he wanted more than he wanted the car.