Ayn Rand

More tax on the wealthy is a bad idea

To start the discussion about laying more taxes on the “rich” or the plan to tax the wealth (net worth) of the “rich” — the progressives’ latest push — let’s start with a discussion about the tycoons of the early U.S.

Tremendous economic and social benefits derived from Vanderbilt’s railroads, Carnegie’s steel and Rockefeller’s oil. These individuals took tremendous risks to build these businesses — these industries — and employed hundreds of thousand of individuals. They made life a lot easier for just about everybody. Milton Friedman states capitalism has brought millions out of poverty and into the middle class. Economic history clearly shows this to be...