Letters

letters

Cry to tax rich misses point of wealth’s value

Many current political campaigns that advocate wealth taxes for the “rich” do not grasp the underlying economics, but instead cry “fairness.” They fail to see the difference between income and wealth.

Perhaps an agricultural analogy would help. Imagine a foolish farmer who harvests his corn crop, consumes everything against all advice, and starves the next year when he has no seed to plant.

Advertisement

Now consider a wise farmer who saves a portion of the crop as seed corn, plants it the following year, and reaps a bountiful harvest.

Is it “fair” for the foolish one to demand part of this bounty, having made no contribution to it?

Get Arguable with Jeff Jacoby in your inbox:
From the Globe's must-read columnist, an extra offering each week of opinion and ideas.
Thank you for signing up! Sign up for more newsletters here

Wealth is the seed corn of our economy, not food for consumption.

Jerry Hartke

Lancaster

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.