The rich must pay "their fair share" is wrong and stupid.

 [Making the rich pay their fair share] 

What is their fair share, and "who" determines how much the fair share is, and why do "they" get to be the ones who determine what is the fair share, and how does one determine how much the fair share is?

In a free market laissez-faire capitalism system, the determination of what constitutes a "fair share" for the rich is inherently tied to the principles of voluntary exchange and contract. This economic philosophy emphasizes minimal government intervention, allowing market forces to dictate economic outcomes.

Voluntary exchange is central to this system. It ensures that individuals engage in transactions that they find mutually beneficial, without coercion. Each party in an exchange perceives the transaction to be advantageous, and thus, the terms of what is considered "fair" are negotiated between the parties involved. This means that the rich, like anyone else, engage in exchanges based on their own assessment of value and benefit [1].

Contracts play a crucial role in formalizing these exchanges. They provide a legal framework that protects the rights and interests of the parties involved, ensuring that agreed-upon terms are enforceable. In this way, contracts help establish a sense of fairness in transactions by clearly outlining obligations and expectations [2].

In practice, this means that the rich pay their "fair share" through their voluntary participation in the economy. This includes paying for goods and services, investing in businesses, and donating to causes they support. The amount they pay is determined by market dynamics and their personal choices, rather than by an external mandate. Thus, the concept of "fair share" is subjective and varies based on individual interactions and agreements [3].

Ultimately, in a free market laissez-faire system, fairness is derived from the freedom of choice and the protection of property rights, allowing wealth to be distributed according to the value created and exchanged through voluntary means [4].

Sources

1 Capitalism by George Reisman

2 Economic Thought Before Adam Smith by Murry Rothbard

3 Classical Economics by Murry Rothbard

4 The DIM Hypothesis by Leonard Peikoff

In addition:

In a free market laissez-faire capitalism system, the concept of a "fair share" that the rich should pay is not determined by a centralized authority or government entity. Instead, it is largely dictated by the principles of voluntary exchange and contract. In this system, individuals and businesses operate with minimal government intervention, meaning that taxes and redistribution are not the primary mechanisms for determining what someone should pay.

In such a system, the amount that individuals or companies pay is primarily determined by their voluntary interactions in the market. Prices, wages, and profits are set by supply and demand forces. This means that any payment or contribution the wealthy make is based on agreements they enter into freely, whether it's purchasing goods and services, investing in businesses, or contributing to charities or community initiatives.

The idea of a "fair share," therefore, is subjective and determined by the interactions and agreements in which the rich choose to participate. The focus is on ensuring that all transactions are consensual and that property rights are respected, allowing individuals to retain the fruits of their labor and investments without mandatory redistribution [5].

Sources:

5 Man, Economy, and State with Power and Market, Scholar's Edition, by Murray Rothbard