“No nation ever taxed itself into prosperity”

Simplified Meaning:

When a country tries to get richer by increasing taxes, it doesn’t usually work. Imagine a shop owner being asked to pay more and more money to the government. Over time, they might have to raise prices or cut down on workers to cover these costs. This means people might buy less from the shop, and a lot might lose their jobs. The owner might even shut the shop down if it becomes too hard to make a profit. In the past, we’ve seen examples like this. For instance, in some countries with very high taxes, businesses have moved to places with lower taxes to save money. This leaves fewer jobs and less income for people back home. So, if a nation wants its people to thrive, it generally needs to balance taxes in a way that encourages growth rather than chokes it. Lower taxes can lead to more money being invested in businesses, creating jobs, and overall, making the economy healthier.