Repealing the inheritance tax means that substantial sums that would otherwise disappear into government spending programs will instead be used to make capital investments.
Video of George Reisman’s TedX talk on socialism.
A Note on Asset Prices, Wealth, and Inequality
Inflation—the government’s expansion of the money supply—creates the appearance of business prosperity along with the fact of general impoverishment, which results in blaming poverty on business and profits.
So many CEOs know so little about economics that they don’t know that in a free market producing for the profit of their stockholders in and of itself implies producing for the benefit of everyone.
Turning our world into one in which practically the entire human race is prohibited from acting for its self-interest on the basis of everyone’s independent intelligence is a formula for mass extinction.
Bernie wants us to fear billionaires. Actually, the billionaires work for us — for the great mass of average people. They want to acquire money from us. Unlike the government, they cannot simply come and seize our money.
As the economic degree of capitalism rises, not only do profit margins and the rate of profit fall, but wage payments come into being and then rise both absolutely and relative to profits.
Capitalism operates to raise wages, shorten hours, end child labor, and improve working conditions.
Despite the support which it historically gave to the exploitation theory, classical economics provides the basis for turning the exploitation theory upside down.
Marxism/Socialism is a philosophy conceived in gross error and ignorance about the nature of capitalism, above all about the nature of the relationship between capitalists, profits, and wages.
The concept of white privilege is an invitation to the violation of the rights of whites to the same extent that the rights of blacks have been violated.