Wonder why he wrote this?
Disincentive to take risk and invest in business which creates wealth.
Promotes laziness and slackers while creating reliance upon big government (vote for us, we will take care of you).
Inflation increases when government manipulation starts happen by printing money. Heck, these days they just create it electronically out of thin air, particularly since we are off the gold standard.
Taxation to redistribute wealth is against the Word of God and all things capitalistic. This was not the intent of our founding fathers.
Bad yet lawful theft and stealing if just wrong.