The most innovative societies in history were always low-tax civilizations, according to British author and co-host of Money Pit Dominic Frisby. He joins Keiser Report to discuss the history of taxation.
A big believer in low taxes, Frisby says labor should be taxed far less than it is now, noting that 50 percent of governments’ revenue is derived from income tax.
“The ultimate form of taxation is, of course, slavery, where you lose all ownership of your labor,” he says, adding that throughout history taxes had unintended consequences.
“The entire history of the world, the entire history of civilization, has been shaped by taxation. As I said, every revolution, every war is funded by taxes,” Frisby remarks.
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