How a Wealth Tax Is Just Like a Cigarette Tax

How a Wealth Tax Is Just Like a Cigarette Tax
AP Photo/Dmitri Lovetsky

The United States government taxes people's income not because it wants them to earn less income, but because it is a way to raise a lot of money. States tax retail sales not to discourage people from buying stuff, but because it is a relatively efficient way to fill state coffers to pay for things like public schools and state highways.

 

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