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View Diary: Guess which leftist said this? (28 comments)

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  •  Well...no. Not exactly. (4+ / 0-)
    Recommended by:
    Gooserock, Toon, marleycat, Chitown Kev

    I think that one of Smith's big mistakes is that he assumed that those to whom much was given or earned would, ipso facto, become philanthropic.

    He understood that a lot of them wouldn't, and so supported luxury, sumptory, and property taxes that would discourage the hording of wealth and encourage both charity and investments in increased productive capacity.

    It's really not a long walk from Smith to Paine...and neither really suffered from the belief that all of the wealthy suffered from any sense of noblesse oblige.

    The Democratic Platform won 235 seats. Betraying it lost 42.

    by JesseCW on Wed Dec 15, 2010 at 02:55:31 PM PST

    [ Parent ]

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