Over on the “Because it really is personal” blog, there is an excellent example of my issues with wealth redistribution. It really goes to the heart of what is wrong with the “we need to tax the rich more” mentality. She calls it “Barstool Economics.”
Suppose that every day, ten men go out for beer and the bill for all ten
comes to $100.
If they paid their bill the way we pay our taxes, it would go something
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
Click here to read the rest of it. It is worth the time to read the whole bit.
[tags]olorinpc, Barstool Economics, Taxes, Wealth Redistribution[/tags]