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Sunday, September 27, 2015

Jefferson on progressive taxation

I am conscious that an equal division of property is impracticable, but the consequences of this enormous inequality producing so much misery to the bulk of mankind, legislators cannot invent too many devices for subdividing property, only taking care to let their subdivisions go hand in hand with the natural affections of the human mind. … Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions or property in geometrical progression as they rise.
~ Thomas Jefferson, letter to James Madison, October 28, 1785

[Apparently Carson said progressive taxation is socialist. He now joins the ranks of those who should be prohibited from throwing the word “socialism” around until they look up an actual definition.]

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