I spent my whole life in the private sector 25 years in the private sector. I understand that when government takes more money out of the hands of people it makes it more difficult for them to buy things. If they can't buy things the economy doesn't grow. If the economy doesn't grow we don't put Americans to work.
Among the many misdeeds of the British rule in India history will look upon the act depriving a whole nation of arms as the blackest.