An injudicious tax offers a great temptation to smuggling. But the penalties of smuggling must rise in proportion to the temptation. The law, contrary to all the ordinary principles of justice, first creates the temptation, and then punishes those who yield to it…
— Adam Smith
Book V of Adam Smith’s classic is entitled “Of the Revenue of the Sovereign or Commonwealth,” includes the above as well as many thoughtful passages about what we nowadays call public finance. Our Political Economy Book Club will discuss this final part of Wealth of Nations on Wednesday, November 12. You can download or read the book on line from severalsources, borrow it from many public libraries, or purchase a copy inexpensively.
For further information or to let us know you’re coming, email PEBC coordinator Bob Matter or call 312 450 2906.
In commemoration of “tax day,” the hypothetical due date for Federal and State personal income tax returns, we’ll discuss a sensible proposal by a man who understood the danger of an income tax: Henry George. In this free introductory session, we’ll review the problems George saw in his time, and discuss how they persist today. We’ll outline what he proposed to do about them, how his recommendations apply today, and provide an overview of the Progress & Poverty course.
The course continues on Friday afternoons thru May 20. Should you choose to enroll, there will be a $25 registration fee.
