"He seems to believe that '
confiscatory taxes' (his term) can be imposed without changing incentives or discouraging innovation and wealth creation.
It would hit businesses with tax rises that would deter investment and would punish entrepreneurs with
confiscatory rates of tax that send a signal that, no matter how much they risk, 50% of the largest financial rewards will be taken by the Government via punitive taxes.
According to them it is exploratory,
confiscatory and unbearable.
Basically you can think of it as a
confiscatory tax; repeat it over a number of years and you effectively confiscate a property asset.
"The very large decrease," he writes, "in the marginal income tax rate in the English-speaking countries after 1980 (despite the fact that Britain and the United States had pioneered nearly
confiscatory taxes on incomes deemed to be indecent in earlier decades), seems to have totally transformed the way top executive pay is set, since top executives now had much stronger incentives than in the past to seek large raises."
Along the same lines, Christo Aivalis states "What is working so well for Sanders underscores the deficiencies of the contemporary NDP." As a case in point, Aivalis compares how Sanders "has railed against the millionaire and billionaire classes" while the NDP, trying to show itself as the party for all classes, prates that "higher taxes on the rich are unjust and
confiscatory."
Will it be more beneficially employed by the political class of a
confiscatory government?
There are many nuggets of wisdom along the way; from the difference between ownership of a business versus a job to understanding the distinction between investing in assets versus liabilities, and comprehending the divergences between a good investment, a forced savings plan, and a payroll
confiscatory plan (when it comes to an IRA offered by one's job).
According to the
confiscatory rate doctrine, although the government may set rates for public utilities, this right is not without limit.
The lying, cheating, condescending,
confiscatory, dishonest, glib, dissimulating, conniving con man - hang on, this isn't good for my blood pressure.