economics

A Reminder On Giving-Back

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A quick must-read.

Giving Back – The Freeman: Over the course of the recent debt-ceiling debate, one argument made in favor of raising taxes on the rich was that they ought to be “giving back.” It wasn’t always clear to whom they were supposed to be giving back, but the argument is that since “society” has made it possible for them to become rich, they should “give back” by paying higher rates of taxation to support government programs.

  • John

    When you buy something from a business, you *give* them your money, and they *give* you something in return. Both sides are giving because it’s a voluntary transaction.

    But when someone says the rich should “give back” in taxes, that’s not *giving*, that’s *taking* because it’s an involuntary transaction. They’re saying that we should take from those who have given the most.

    • http://pretenseofknowledge.com/ speedmaster

      Absolutely. Mutually-beneficial voluntary exchange. Everyone wins.