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November 27, 2009

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Letter: Let’s not follow Europe’s example

Monday, Aug. 7, 2000 | 9:29 a.m.

The question: Is the productive citizens' money better in their family's hands, where they will spend or invest the money, either way benefiting the economy, business and working people? Or is the money better confiscated by the government, where they produce nothing and waste over one half of it?

If you believe that money in private citizens' hands stifles innovation and growth, and money in governments' hands benefits a society more, look at the old Soviet Union or Cuba! You mention Europe has fostered dynasties that have inhibited middle class growth.

I would like to suggest that the income tax system and socialism fostered European dynasties by taxing success so much to pay for social programs that hard work and risk taking wasn't worth it. It's not economic dynasties -- whose investments provide capital and whose spending provides consumer demand -- that harm succeeding generations. No, it's government confiscation that takes the profit from success, innovation and competition.

BILL STEPHENS

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