As a piece of economics, the flaw is that there's no production in this model economy - the money just comes from nowhere in unequal amounts and then goes into the bar.
As a piece of politics, the flaw is that the rich guy is now drinking on his own, with no buddies and quite likely to get himself beaten up and his bluging wallet stolen. The principle underlying progressive taxation is the one identified by Sir William Petty a hundred years before Adam Smith - that those who have more, have more of an interest in the maintenance of the King's Peace and thus ought to pay more for its upkeep. best dd -----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Dan Scanlan Sent: 26 March 2007 17:14 To: [email protected] Subject: what's the flaw?
