The Podcast of the Lotus Eaters PREVIEW: Brokenomics | Economics with Crayons - for Socialists
Jul 22, 2025
Explore the intricacies of wealth taxation and dispel common socialist misconceptions about economics. Discover how a proposed 2% wealth tax could lead to unintended negative consequences, such as capital flight. Understand the historical context of wealth tax impacts in countries like Sweden and the UK. Dive into the myth of money printing and its real implications for value, emphasizing a need for tangible goods. Challenge the narrative around wealth and taxation to uncover the relationship between money, trust, and economic productivity.
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Wealth Taxes Cause Capital Flight
- Rich people are mobile and can relocate to avoid high taxes.
- High wealth taxes cause capital flight and undermine revenue goals.
Top Taxpayers Are Most Mobile
- The richest 1% pay a large share of income taxes but are also the most tax-mobile.
- Governments must consider incentives and reactions when designing tax policy.
Money Isn't Real Economy
- Money is only a shadow of the real economy and does not equal actual wealth.
- Printing more money revalues prices without creating any new goods or services.