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AdolfoLaurenti
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Even-handed, and very reasonable even from across the aisle. One question (a question: not a provocation...) If the goal is containing the rich from having excessive political clout, are higher taxes the best available tool? What about constitutional/institutional rules (to borrow from public choice theory: certainly not friends of high taxes, but neither friends of unchecked concentrated power). From campaign finance to lobbying, to the revolving door between corporate boards and government, to bank bailouts, to politically-oriented subsidies, to tax loopholes. I may be wrong, but I suspect the public would be more accepting of Taylor Swift's riches even at low marginal tax levels, than of Henry Potter's, no matter how heavy his tax burdens.
On top tax rates
I’m not happy with either the left or right’s conventional arguments about top marginal taxes. Let’s take the right’s first. They claim that high taxes disincentivize the work of the highly-skilled and in doing so reduce GDP and tax revenue. I’m not happy with this because the evidence is weak (...
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Jan 24, 2019
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