Three Brothers and the Progressive Income Tax (Prager U)

Posted by xthinker88 8 years, 11 months ago to Government
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I only have one problem with the little video. It's not about number of hours. Hours worked have little value in and of themselves. If we dropped off two of the brothers on two neighboring deserted islands and one spent 20 hours the first week making a small shelter, finding a spring with fresh water, and gathering coconuts and fishing while the other spent 80 hours digging a big hole in the sand at the beach and making a sand castle - which of them would survive? Hours play a very minor role in overall value of labor in modern society. This is increasingly so (and was less so 200 years ago).

The first thing that a liberal would respond to this video and say is that a lot of rich people do not work more hours than poor people.
SOURCE URL: http://www.prageruniversity.com/Economics/The-Progressive-Income-Tax-A-Tale-of-Three-Brothers.html#.VTEQbPnF9ZE


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