Misrepresenting Adam Smith

22/08/2025 8 min
Misrepresenting Adam Smith

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Episode Synopsis

Adam Smith is often recognized as the father of modern economics. One passage from his "The Wealth of Nations" is often quoted as proof that Smith favored a progressive income tax. However, that claim doesn't hold up under closer examination. What Smith actually favors is proportional taxation. And that's exactly what the FAIRtax delivers.