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Taxation of unearned income or wealth is not expropriation, is the point.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Fri Jan 20th, 2012 at 05:02:02 PM EST
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It's justified expropriation, and it's coming to a state near you (we can hope).

paul spencer
by paul spencer (spencerinthegorge AT yahoo DOT com) on Fri Jan 20th, 2012 at 09:36:38 PM EST
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If you don't recognize the property rights over something, it is expropriation when you take it away?

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Sat Jan 21st, 2012 at 05:03:05 AM EST
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People tend to forget that the right to property is not a human right. It is a legislative invention and we can invent something else. And if we don't do that quickly, rioters like the ones in London last year will do it.
by Katrin on Sat Jan 21st, 2012 at 08:37:27 AM EST
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I put up a diary, where I suggest to think about taxation of surplus capture (or appropriation) rather than earned versus unearned income.
by das monde on Sat Jan 21st, 2012 at 05:46:06 AM EST
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