In this excerpt from Saturday's podcast, Yaron Brook calls the proposed GOP tax reform plan anything but "simplicity and flatness."
"It's unjust. It's immoral for somebody who makes a lot of money, creates a lot of wealth, produces a lot, works hard, to pay more taxes than anybody else," said Brook. "Is that the system we live in in America today? We want to penalize hard work? We want to penalize innovation? We want to penalize wealth creation? Oh no, we don't want that behavior."
Brook points out that anything we tax, we get less of, and so if we tax things like hard work, innovation and productivity, we will get less of those things. The proposed tax bill keeps the top marginal tax rate at 39.6 percent. "They shouldn't have to pay that much more in taxes," said Brook. "They already contribute so much to all of our lives by creating the wealth that we all enjoy. By creating jobs that we all benefit from .... What a waste. What a wasted opportunity."