Hatred of the rich is an emotion that must be sated

France in the good old days, writes Dalrymple,

could have debauched the currency to cancel its debt. But its room for manœuvre is now severely circumscribed; for historical reasons, its German neighbours, who prop up the currency they share, are averse to such debauchery.

In Western countries today, to refrain from taking money from someone

is now to give him a present, which suggests that he had no right to the money in the first place, and that what remains to him is only by grace and favour.

The point seems lost on most of the French that

you don’t raise the most revenue by taxing highly, as if people with money were a herd of unmilked cows in a rich pasture, ever able to produce more.

Even, says Dalrymple, if people were to grasp

that wealth is dynamic rather than static, that the tax on fortunes lowers the sum raised, they would still want the tax. Its symbolism is more important than its effect.

Trackbacks are closed, but you can post a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: