Now here’s a question for you. If rent-seeking, were taxed at 100%, would there be any reduction in economic activity?
After all, if rent is that which is paid above and beyond what needs to be paid in order to keep a factor of production producing, one would imagine that it doesn’t matter who collects the rent – no change in economic output occurs.
Now here’s a question for you. If rent-seeking, were taxed at 100%, would there be any reduction in economic activity?
After all, if rent is that which is paid above and beyond what needs to be paid in order to keep a factor of production producing, one would imagine that it doesn’t matter who collects the rent – no change in economic output occurs.