Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (50864)	6/10/2004 4:41:53 PM
From: Night Trader	Read Replies (4) of 74559

The analogy is superficially convincing but an economy is more complicated than a meal. It would be more apt if the diners received different sized meals according to their wealth. Should not a person who owns a disproportionate share of a society’s assets be expected to contribute more to that society’s expenses? The expense of defense and law enforcement for example is largely about protecting property rights. A wealthier person has a larger stake in the maintenance of that society. Personally though I’d like to see all income and corporate taxes scrapped in favor of a much more efficient national tax on consumption, not just on goods as it is now but also services such as travel, housing etc. The above two paragraphs aren’t contradictory: anyone who doesn’t consume their assets personally is really just managing them as an institution would.

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