I’m tempted to say the big takeaway from today’s column is that wealth taxes are a bad idea.
That’s true, of course, but the bigger lesson we should absorb is that a rich nation can become a poor nation.
Simply stated, if a government imposes enough bad policies – as has been the case in Argentina – then it’s just a matter of time before it declines relative to nations with sensible policies.
Author(s): Dan Mitchell
Publication Date: 10 July 2020
Publication Site: International Liberty