I was recently thinking about fish for some reason. My mind hearkened back to the good ole saying:
You can give a man a fish and feed him for a day, or you can teach a man to fish and give him a reason to sit in a boat all day drinking beer.
As I thought about this profound statement, I thought it might need a little updating for today’s world. In honor of the season, I have changed that classic saying to the following:
You can teach a man to fish and feed him for a lifetime, or you can just give him his neighbor’s fish as a tax on productivity and create a socialist utopia.
Of course, the one man still will not know how to fish and will end up becoming a dependent of the socialist utopia. The man who knows how to fish will end up either hiding his fish or fishing less in order to avoid taxation. In either case, the quantity of fish available for all will decline because the utopia will have created incentives that tax productivity and reward lethargy.
So, kiddies, if you tax the risk takers, less risk will be taken and the total overall quantity of benefit from the risk will decline. Risk takers are being threatened with a no-win proposition: if the risk doesn’t pay off they lose and if the risk does pay off they lose by taxation. By raising taxes on our entrepreneurs that take risks and create jobs, less jobs will be created, less investment will occur and the overall health of our nation will decline.
Just something to think about. Now get back in your boats and keep drinking!