Amount Quote by Murray Rothbard
“The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living - for the mass of the people - of any country in history.”
About This Quote
Source Book: Man, Economy, and State, 1962
The welfare state claims to tax the rich for the poor, but the rich fund essential economic activities; taxing them heavily harms overall prosperity.
In simple terms: Taxing rich harms economy and poor.
Key Takeaway
Reevaluate tax policies for growth.
Themes
economics
public policy
taxation
wealth distribution
Mood
analytical
critical
Type
political
economic
When to use this quote
- government budgeting
- social programs
- investment climate
- entrepreneurial funding
Key Concepts
economic theory
public finance
Questions to Reflect On
- How can societies support the poor without harming growth?
- What alternatives to heavy taxation exist?
A Different Perspective
Over-taxation may reduce incentives for innovation.
