April 11, 491
Anastasius becomes the Byzanine emperor, (491 to 518) the Roman Empire of the East.
In the first documented exercise of what would come to be called trickle-down economics, Anastasius I abolished a wide range of taxes that fell heavily on the empires most productive classes, its craftsmen and merchants, arguing correctly, that a prosperous merchant would pay even more in fees than the treasury lost in taxes.
Under his rule the treasury grew by 320,000 pounds of gold. Justin followed him in 518, followed by Justinian I.
From Justinians Flea, by William Rosen, p. 62-63
Trickle-down economics,...
Works every time....
Attention Barack Obama!
Anastasius becomes the Byzanine emperor, (491 to 518) the Roman Empire of the East.
In the first documented exercise of what would come to be called trickle-down economics, Anastasius I abolished a wide range of taxes that fell heavily on the empires most productive classes, its craftsmen and merchants, arguing correctly, that a prosperous merchant would pay even more in fees than the treasury lost in taxes.
Under his rule the treasury grew by 320,000 pounds of gold. Justin followed him in 518, followed by Justinian I.
From Justinians Flea, by William Rosen, p. 62-63
Trickle-down economics,...
Works every time....
Attention Barack Obama!