Posts Tagged ‘tax the rich’
Cost-Benefit Analysis
Higher taxes on the rich will reduce their incentives to work, save and invest, clipping maybe 0.5% off of GDP. But that’s not the end of the story. The relevant question is: will the benefit to society of redistributing some income from rich to poor (which will hopefully result in better trained workers, improved high-school…
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The inheritance tax hurts the poor by encouraging the rich to overspend because they can’t leave it all to Junior. This tax-avoidance induced spending on jets, boats and lavish parties reduces the money available for new plant and equipment. Look, America already overconsumes. We shouldn’t pass tax increases that exacerbate this. So go ahead and…
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