The Libertarian Podcast With Richard Epstein

The discussion about the income tax versus the consumption tax is one within the traditional parameters of tax theory. The stuff that we're going on with respect to the wealth tax and with respect to taxing on unrealized gain is moving into very dangerous treatment. If you do it on a national level, what's going to happen is foreign investment will dry up and many people will renounce this citizenship in order to take the benefit of low tax rates elsewhere.