Taxes don't just destroy wealth...

According to this ESPN article they also destroy some sports. Apparently some golfers are refusing to play in the UK tournament because to do so would expose them to enormous tax liabilities. The tax liability is not only on UK income but includes international income. With such a strong disincentive to compete, golfers are doing the only rational thing, refusing to compete.

This is not dissimilar from Usain Bolt who refused to race because of the same tax burdens.

The practical reality is that government interference has, once again, led to a disservice to every citizen. The tax burden, at best, was intended to punish the wealthy for the benefit of the middle and lower class. Now the upper class are refusing to work, meaning the state will not get any of their revenue from those events. So, the state cannot redistribute that wealth to the lower and middle class as intended.

To make matters worse for the lower and middle class, they do not get to see their favorite athletes compete. I remember when I was a kid looking forward to my heroes, Michael Jordan and Dennis Rodman, play basketball. I would be crushed if I couldn't watch them compete because the state's policies made it unprofitable to do so.

Basically we see what we all knew would occur. The state had good intentions (possibly) and in the end every person got hurt. Now there is less revenue and less enjoyment for all.