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53 sats \ 6 replies \ @Solomonsatoshi 12 Aug \ on: Tax the Rich? Not a Good Idea econ
This is Adam Smiths view-
“The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Adam Smith didn't understand marginal utility.
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Tell me you have not read 'The Theory of Moral Sentiments' without saying so...
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The marginal revolution occurred after Smith's works, so tell me you know nothing about the history of economic thought without saying so.
Also, I love The Theory of Moral Sentiments, but that doesn't mean every statement in it is correct.
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The state enforces and supports property rights the wealthy. Good luck to the wealthy in a state of anarchy...they will be crying for protection that is not there and running for their lives as their wealth is taken from them by the hordes.
The greatest and most direct beneficiaries of the states monopoly upon the issuance of fiat money are the wealthy.
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I would say the wealthy lobby the government to violate the property rights of others for their own enrichment, more than that they need the state to protect their property rights.
However, you're right that in a state of nature they would be the one's clamoring most for a state.
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