Taxes are necessary
are necessary. But they don't make the country any better off.
At best they simply move money from the private sector to the
government. But taxes are also a burden on production, because
they discourage people from working, saving, investing, and
taking risks. Some economists have calculated that today each
additional dollar collected by the government, by raising income-tax
rates, makes the private sector as much as two dollars worse
off. To me this means one simple thing: tax rates should be
as low as possible. This isn't anything ideological, and it
really isn't some great insight. It's common sense arithmetic."
Compiled by Thomas George
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