How to Destroy the Middle Class

Step 1: Impose a tax on unrealized capital gains right before hyperinflation takes off.Step 2: Sit back and enjoy the show — you’re done! The above is not an exaggeration. Don’t think only about crypto and stock holdings. Think bigger. Your car, your house, your clothes, your dog, the food in your refrigerator, and any […]

An Observation on Economic Motivation

When we want to discourage people from smoking we levy taxes on cigarettes. When we want to discourage people from drinking we levy taxes on alcohol. When we want to discourage the purchase of a product from a particular country we levy taxes on their imports. What should we interpret as the motivation behind taxes […]