How intellectuals misunderstand income tax | Thomas Sowell

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Thomas Sowell is an American economist and political commentator. He taught economics at Cornell University, the University of California, Los Angeles, and since 1980 at the Hoover Institution at Stanford University, where he is currently a Senior Fellow.
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[Gringosaurus]

So the clown at the start says “people leaving due to tax increase’s is false” because we will pass laws in the other countries to penalize them” sooo it is true they are leaving but your solution is to make other countries fine them? Thats like saying if you don’t pay X price for this new car and go to another dealership we will have the other dealer fine you for buying from them. That is pure fantasy which is why progressives believe in fairytales.

[jladdyost]

If you pass a law saying you can't leave a Western country, then we are no different than North Korea or the former Soviet Union.

[Zetact_]

Imagine living with a politician. He says he's going out for groceries and asks if he should pick up anything. You say that the house is running short on milk so you give him $5 for that. He comes back and he has not purchased the milk, but instead has spent the money on a bag of candy, that he has already eaten. Then he says he'll buy the milk if you give him $10.

[brucebarthold]

A criminal act to move MY wealth where I choose? I don’t think so.

[jlushefski]

Richard Wolff was an early source for me when I started to learn about economics. What's funny is that despite not having any economic knowledge besides high school AP class, I was able to recognize his lack of understanding solely by the number of mistakes in logic and coherency. My background was math/science, and I remember my first Sowell book (borrowed a friend's Civil Rights: Rhetoric or Reality) as such a pleasure, which read like a well-done biology paper. No nonsense, no salesmanship, no fluff: he presented a fact/statistic, connected it into another, into another, etc, with the collection forming an overarching idea. It's so refreshing to see that kind of rigorous work in today's age of authority, conformity, virtue signaling.

[jimthompson]

Politics and their accompanying politicians ALWAYS seem to be the problem. Dr. Sowell is a true American Treasure!

[Hengebobs]

A graduated income tax has one purpose, and ONLY one purpose, that is to function as a political weapon. It is used to punish the opponents of the legislature and reward it's allies. If revenue were the purpose, it would be as streamlined and functional as possible. A graduated tax by its very nature requires a bloated bureaucracy to manage and enforce it.

[johndrew]

Politicians think that the rich should be “punished” as well as thinking higher rates will generate more revenue.

[williamwenrich]

They need to check out Ronald Reagan's response to a 70% tax rate. He said that he could make three movies a year but, at 70%, it wasn't worth his time and effort. This hurt all of the other people who would have been employed by the third movie.

[artemthetrain]

What's mindboggling is people somehow hear the first guy talking and think he's on some moral high ground for wanting to forcibly take your money, while those who have earned it are depraved for wanting to keep it.

[chadgaston]

Tax the rich so I can spend their money while giving you scraps. Socialism 101.

[icy]

Thomas Sowell is one of the greatest minds on the planet that truly understands America's truth.

[BBQ_Jackfruit]

I object to AOC being featured in the thumbnail for a video entitled “How intellectuals misunderstand income tax.”

[alabamasmokeywilson]

Yes and yes 🙌. I can't believe that on my job last week I was repairing pot holes. I doubt if I get a sign . ( Special thanks to Smokey Wilson for filling in the holes) Love your channel Smokey ❤

[jimcherry]

You can make it a criminal act to evade taxes. Can you make it a criminal act to refuse to earn a high income? To go fishing, instead of working?

[nobbytang]

The UK went down this socialist high tax rate for the rich in the 70s ….all the high earners and celebrities went abroad leaving a gap in the talent pool …..luckily (l didn’t think so at the time ) Thatcher came along and realised the unions were way too strong and set out a plan to break them which she did …thank Goodness…

[catherinecastle]

Excessive or discriminatory taxation is a symptom of a corrupt society, both the civil service and the citizenship. Until we truly understand this truth and stop applying bandaid after bandaid to a disease that requires surgery...we can never cure ourselves from our propensity to become corrupted.

[e.a.p]

When Brands International bought Burger King and Tim Horton's the new company was set up in Toronto, because under Obama Canada had lower corporate tax rates. Singapore which has a 10% flat tax had the best economic performance of any country in the world. There is no city in the U.S.A which is as clean as Singapore. Red States tend to have superior economic performance than blue states. Enough said.

[Stevarooni]

Too often, taxes are punishment rather than intended to generate income.

[zekelucente]

One of these men is a national treasure and it’s not the short guy.