Government Control of Income?

Another dangerous power toward which we are moving, bit by bit, on the installment plan, is the power of politicians to tell people what their incomes can and cannot be. Here the resentment is being directed against “the rich.”

The distracting phrases here include “obscene” wealth and “unconscionable” profits. But if we stop and think about it—which politicians don’t expect us to—what is obscene about wealth? Wouldn’t we consider it great if every human being on earth had a billion dollars and lived in a place that could rival the Taj Mahal?

Poverty is obscene. It is poverty that needs to be reduced— and increasing a country’s productivity has done that far more widely than redistributing income by targeting “the rich.”

You can see the agenda behind the rhetoric when profits are called “unconscionable” but taxes never are, even when taxes take more than half of what someone has earned, or add much more to the prices we have to pay than profits do.

Thomas Sowell, Dismantling America, pg.12-13