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By Pithocrates

This is where excessive government spending leads to. Excessive taxation. And confiscatory tax rates. Taking as much from the wealth creators as possible to fund the welfare state. And as progressive tax systems fail to generate the desired tax revenue they will turn to every other tax they can. Until there is no more wealth to tax. Or to confiscate. When the wealth creators finally say enough is enough. And refuse to create any more wealth for the government to tax or to confiscate. Leaving the government unable to meet their spending obligations. As the critical mass of people turn from taxpayers to benefit recipients. Heralding the end of the republic.

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Progressive and Regressive Taxes and Marginal Tax rates

 

 

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