The Fair Tax Equation: T=I(I(.000001))
the larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment. When the total tax burden grows beyond a bearable size, the problem of devising taxes that will not discourage and disrupt production becomes insoluble.
By today’s standards King George III was a very mild tyrant indeed. He taxed his American colonists at a rate of only pennies per annum. His actual impact on their personal lives was trivial. He had arbitrary power over them in law and in principle but in fact it was seldom exercised. If you compare his rule with that of today’s U.S. Government you have to wonder why we celebrate our independence..
There are only two things worse then an empty canvas: death and taxes.