Squeezing the rich is good: even when it raises no money
From Critiques Of Libertarianism
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Three examples of how unrestrained income for the wealthy is socially harmful and should be taxed, even if it doesn't raise more money.
[...] the idea that people have full liberal property rights in their pre-tax income is unwarranted. They participate in a co-operative venture with others in society subject to certain conditions, and those conditions include one that part of “their income” already belongs to the wider society, via the state. This point, hated by libertarians, defeats the widespread view that people are having “their money” taken off them: it wasn’t theirs to start with.
Chris Bertram, "Squeezing the rich is good: even when it raises no moneySqueezing the rich is good: even when it raises no money"