How Lowering Taxes on the Rich Can Raise Revenue: Amity Shlaes
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Feb. 2 (Bloomberg) -- Tax the rich. Forever. And not justin election years. The general assumption is that rate increaseswill be the new norm. The main reason for this is said to bedemocracy itself.
We have reached the point where just about half of alltaxpayers, the lower-earning households, pay almost no incometax. Voters have no reason to endorse a tax cut that’s not forthem. The group that pays high rates represents an electoralminority.