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Taxing the rich directly reduces the tax burden upon those who are not wealthy
That is categorically false. Raising taxes on the rich has no necessary relationship with tax rates for anyone else.
When you factor in reduced investment, there will almost certainly be negative fallout on the non-wealthy.
left wing interpretations of Adam Smith
Direct quote in fact -
“The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Adam Smith
as a flat tax not overtaxing the rich
“The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Taxing the rich directly reduces the tax burden upon those who are not wealthy and therefore less able to afford paying taxes.
Thus the beauty and truth in Adam Smiths first maxim of taxation - that the wealthy who benefit more from the protection of the state, pay more tax.
User pays its that simple - just there's always some selfish greedy rich pricks don't want to pay their fair share.