The Lighthouse | capitalism

A Major Reason for the left-right disconnect: The Worse Kind of Tax – And a much better Alternative

By Erik Zimerman On August 23, 2012 · 3 Comments · In The Whiskey Room

It probably comes with little surprise, that the "worse kind of tax" being referred to is the dreaded Income Tax; and with good reason, it is true. This article is the first in a series in which we will tackle ever more complex economics related and financial subjects to point out the increasingly inadequate systems most of the world is functioning under. They encourage boom-bust cycles, constant devaluation of a nation's currency, corporatism, debt, a constant unquenchable need for economic growth, government dependency, and the erosion of personal freedoms. At the same time they discourage that very same economic growth, true capital investment, work, savings, stability, individual risk taking, and self-reliance. Taxation is a good place to start. It is very interesting to note that large part of the disagreement between the right and the left on this matter (on the rate of income tax, not its existence), comes from a skewed perspective on the issue that I have never seen discussed. It will be herein.

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