Source I

A taxation system based on the theory of taking from the rich to give to the poor results in frustration and stagnation. It penalizes the enterprising, the efficient, the vigorous and the thrifty without, in the long term, benefiting those who lack these qualities. High rates of taxation, which go beyond the need for government's general support and the maintenance of public services, reduce labour's incentive to work, management's incentive for efficient operation and the willingness of investors to undertake new risks. The consequences are a diminution $*$ in the number of new enterprises and lowered productivity in the enterprises already existing. This in turn means fewer jobs and a lowered standard of living for all citizens.

$*$diminution$-$reduction