I really have a hard time understanding it. Before Karl Marx complain that workers should get full benefit of their labor rather than having to share it with politicians and land owners.
Contemporary capitalistic society is close to that. Look at Mark Zukenberg. He started as a poor student and become billionaires by working on his start up. That seems like pretty pro workers system to me.
Capital owners that buy Mark stocks actually lost money. Capital owners have to take huge risk or accept very low return now due to abundance of capital. Capitalism is ironically far more friendly to workers than capital owners.
Yet there is this thing called income tax. It tax money from workers. The money goes to politicians. Politicians use it for 3 things.
1. Squander it. They get money by ruling the land through voters seizing money unfairly from hapless programmers, start up founders, and other workers. From presidential airforce one to welfare recipients. All got money through political mean rather than working productively to earn their fair share.
2. Build infra structure that increase land price hence benefiting land owners.
3. Control it inefficiently to their whim such as creating public schools.
I mean what is so pro worker about contemporary socialism?
There is one socialists I may sympathize with. Henry George. Tax land, pay dividend to everyone. Henry agreed with Adam Smith on most issues beside that.
While I do not agree with him on many issue, I think he got some right idea. Things like land or oil are not produced by any humans. It make sense to split that out equally rather than killing each other for it.
Henry solve the 3 problems efficiently
1. It eliminate income tax keeping workers fully (or almost fully paid).
2. It takes money from land owners that are indeed benefited the most from public infra structure that increase their size.
3. By giving cash divident to population, it eliminates inefficiency of government. Before, inefficient public school is there because people have no choice. Under capitalism, only the most efficient school will get funded like what it normally is under free market capitalism. Soon that efficient school will become every school.
There are many source of income that doesn’t distort the market so much. Government can tax gasoline to reduce polution. Government can auction off radio frequencies. Government can tax usage of brand. Government can tax advertising. Best of all government can tax political campaign. It’s zero sum game anyway with every dollar spent by one side will cost the other side 1 dollar. Best of all, the world can tax weapons. Every weapons one country make will make other country relatively weaker we’ll all be better off if those weapons got less and workers got more.
Tax workers and the best workers will flee to other places. Tax land, and where do you think those land will go?
I mean it’s not about right and wrong here. It’s about profit for all of us. Countries that have low tax and low crime rate will attract investor and increase land price. So it’s natural that the people in that country got rewarded for that. Kind of proper alignment kind of thing.
The most idiotic socialistic idea is income tax is a post from: Free Market Forever
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