Employers have complained that they cannot afford the tax and threaten to go out of business. Assuming the supply of labor is very inelastic, one can argue that ultimately the burden of this tax actually will rest mostly on workers. The production function in Table 1 indicates a process characterized by decreasing returns to scale. The Treasury Committee has been debating whether or not it would be beneficial to replace the dollar bill with a dollar coin. Economists advocating the switch are most likely to argue that inflation has made the dollar bill virtually unusable.
People reproduce at a careful pace, to avoid overloading the carrying capacity of the system.
People reproduce as rapidly as means permit, but production of food and other consumption goods cannot keep up. People are unable to reproduce quickly enough to put much strain on the productive capacity of our economy. Output per person will grow rapidly, provided population growth is permitted to grow at a natural rate. The economy is unable to meet people's needs at the best of times, much less during periods of drought or famine. It is telling, therefore, that few economists are billionaires.