Jeffrey A. Tucker of FEE gives a very positive comment to Trumps tax plan.
Population increases, consumption increases. Economic growth is the key to a good society. Economic growth must come from the private sector. It does not come from government programs and policy manipulation.
Tucker explain a completely new definition of capitalism, at least as i am concerned. Capitalism is producing goods for production. Consumption is to consume goods. Of course there is a big industry, plenty of people employed in satisfying the consumers market. I would like to call consumption socialism. In Sweden to-day we hear the idea that consumption increase number of employees, who pay taxes. And taxes allow wellfare, so wellfare is also a sort of consumption.
Politics aim at giving people a safe living, from craddle to grave. That is welfare and welfare is given to the peple by politics. Buit welfare does not com from consumption, it comes from prosperity.
Who is producing goods for production? I quote Tucker: ”Without capital, and the private ownership of capital, and security over your property rights, you can’t have economic growth. You can’t have complex production. You can’t raise wages. You can’t live a better life. Every tax on capital, capital formation, capital accumulation, and business profit reduces the security of property rights over capital. This is a sure way to attack economic growth at its source. ”
To put it in an other way: to make economy flourishing you must abolish taxes on capital, capital formation, capital accumulation and business profit. This is undoubtly to reduce taxation of the rich people.
If reduced, or abolished, taxation of the rich, of the capitalist, is the only and best way to raise wages, to abolish poverty, to create a better life for everybody, shall we really prefer to live less prosperous, accept poverty rather than having a good life and abolish poverty. And the only reason for this is that we insist in that producing goods for production is unnesseary and consuming capitlaist’s capital is better.
Make you choice!