Personal Income

On this 1776 broadcast, Clay, David & Graham discuss topics like personal income, finances, the living wage, and income inequality. Clay:

Jefferson thought we should redistribute wealth downward or at least put a cap on the incomes of the super-rich by having a geometrically graduated income tax — but he was even timid about that. He didn't like those words to have to come out of his mouth because it sounds like too much government, and then you also don't want to have to punish the industrious. It's one of the principle problems of any civilization, which is: Not everyone will be an equally successful player in the economy for one reason or another. What do you do then about those who, for whatever reason, can't find a sufficient income to support a lifestyle of modest dignity? What's the right answer to that problem?

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Further Reading

More from the Thomas Jefferson Hour

"Coining presses, Government Mint, Philadelphia." The public domain image comes from the New York Public Library Digital Collections.