On: Why were Victorian elites so effective?

[Telemakhos]

This is the most European thing I’ve read all week. Income is inflow of money, while rent is an expense. The avoidance of expense should not be considered income for tax purposes: it would discourage frugality.

[thaumasiotes → Telemakhos]

If you applied that principle consistently, it would be much worse to tax income, since that discourages production.