Wealth destruction is worse than taxes
An economic activity has one more of the following impacts Wealth creation - for example, processes like extraction of oil, capturing solar energy and even repairing a broken device. Wealth transfer - for example, processes like selling a good, taxes and bribery/theft, though the last one is usually illegal. Wealth destruction - for example, processes like hurricanes, wars and riots. Most developing/underdeveloped countries usually lack sufficient wealth creation, but it does not stop there....