Adam Smith’s Four Taxation Maxims
Adam Smith gave four maxims on taxation that is fully implemented in our proposed Pointtax System as part of our alternative economic system called Pantrypoints which is based on the taxation requirements in The Wealth of Nations:
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1: People should contribute towards supporting their government in proportion to their respective abilities
The rich or those who have the ability to pay more should pay more than those who are less able to. Smith’s pro-poor taxation policies are found in Book 5, Chapter 2, and are as clear as day:
“The high price of necessities for the poor must be compensated by an increase in their wages.. It must always be remembered, that it is the luxurious and not the necessary expence of the lower class that should be taxed.”
The rest of the post is on our main site: https://superphysics.org/social/economics/principles/taxation-maxims/
