Taxing Times

I think this is a good article by Thomas Sowell:

“People who do not own a single share of corporate stock can still lose big time when capital gains taxes are raised — not only because jobs can follow capital out of the country, but also because millions of working people’s pension plans own corporate stock, and those people’s retirement incomes will depend on the value of those stocks, which is reduced by capital-gains taxes.

One of the biggest taxes is one that is not even called a tax: inflation. When the government spends money that it creates, it is transferring part of the value of your money to themselves. It is quiet taxation but often heavy taxation, falling on everyone, no matter how low their incomes might be.”