Friday, October 31, 2008

Another View on Seed Corn

From Thomas Sowell, one of my heroes:

Chief Justice John Marshall said it all in one sentence: "The power to tax is the power to destroy."

It is not the money that is taxed away that is destroyed. What is destroyed is the wealth that does not get produced in the first place, because high taxes make its production not worthwhile.

While we will reap what we sow, we cannot reap what we do not sow.

Let the "rich" keep their seed corn.

1 comment:

Anonymous said...

I liked this very much.

I'm an admirer of Thomas Sowell, as you are, and one of the things I like most about him is precisely what you capture here: he's able to say so much in so few words.