Episode 251: Wealth, Income, Capital Gains, and Taxes
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Is Taxation Theft?
From 1790 to 1928, the government spent as a fraction of the entire economy between two and 4%. From Hoover forward, you get this idea that the government can just tax at whatever rate it wants. We're in a situation where there are no effective constitutional constraints on how much the government spends. There's no line in the sand drawn that says, for example, the government may collect 18% of the economy as tax revenue and no more. And if that's the case, the government can come and take whatever it wants.
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