There is No Such Thing as a “Fair Share” of Taxes

President Joe Biden recently reiterated the complaint about the wealthy not paying their “fair share” of taxes. However, the concept of a fair share is arbitrary and lacks an objective measure. Taxes are imposed by force, unlike voluntary market transactions. The top income earners already contribute a significant portion of taxes. Additionally, income alone does not determine one’s financial well-being. The notion of a fair share of taxes is used to disguise political power grabs.