Lawrence Reed argues governments create regulatory roadblocks that discourage entrepreneurship by vilifying wealth and limiting gains. He cites a federal executive order that would have capped entrepreneurial earnings at $25,000, warning such policies drive innovators away and weaken civilizations.
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$25,000
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Can you imagine that you're an entrepreneur, you come up with an idea. It requires taking some risk, accumulating some capital, making some investments that might go solid and along comes the federal government that says well don't make more than $25,000 because if you do we're going to take all of it. Well that didn't fly. Congress intervened and rejected that executive order, repealed it. But can you imagine what the damage that such a measure would have done? I mean that's an example. Governments every day the week all over the world are putting roadblocks and barriers in the way of risk taking innovators and often they do it by vilifying those innovators ahead of time, calling them the rich elites. And you know, we got to make sure they don't make too much money. Well that sort of thing has taken one civilization after another and just crushed it by driving entrepreneurs to someplace else or some other more sterile activities.