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Taxation and “The Law of the Market”

In: Toxic Economic Theory, Fraudulent Accounting Standards, and the Bankruptcy of Economic Policy

Author

Listed:
  • R. A. Rayman

Abstract

In the market place, buyers are normally charged, not according to their ability to pay, but according to the market value of what they buy. No means test is carried out when shoppers buy groceries, nor is any investigation made into their personal wealth. Yet, in the queues at the supermarket check-outs, there is no outcry against the same prices being charged to rich and poor alike without regard to financial circumstances. You pay for what you get; that is the Law of the Market.

Suggested Citation

  • R. A. Rayman, 2013. "Taxation and “The Law of the Market”," Palgrave Macmillan Books, in: Toxic Economic Theory, Fraudulent Accounting Standards, and the Bankruptcy of Economic Policy, chapter 15, pages 149-159, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-30450-6_15
    DOI: 10.1007/978-1-137-30450-6_15
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