Episode 8 for my – Podcast – Letter from The Cape – is now available.
In this episode we examine the veracity of the progressive call to ‘Tax the Rich’ which proponents think will provide the government with more spending capacity to improve health and education services. We learn that there is no zero-sum game where we have to sacrifice A if we want more of B, as long as there are idle productive resources which can be brought in use. The currency-issuing government has no financial constraints. We should increase the taxes on the high income recipients but not because the government needs their money. The reason is that if they have less money then it reduces their power to influence the public debate through control of media, through funding of think tanks and lobbying organisations, through funding of political parties and all the rest of the ways that those with lots of cash can splash it around to get what they want at the expense of the many.
Duration: 6:43
