Economics
Raising Taxes on the Rich Won’t Necessarily Curb Growth, IMF Says
- Moderately progressive tax systems don’t impede growth: IMF
- Universal basic income may hurt poor in advanced nations: IMF
It's Trump vs the IMF Over Tax Cuts
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Advanced nations can reduce inequality without necessarily sacrificing growth by shifting more of the income-tax burden onto the rich, according to the International Monetary Fund.
There’s no strong empirical evidence that moderately progressive tax systems harm economic growth, the IMF said Wednesday in the latest edition of its Fiscal Monitor. So-called progressive systems tax the rich at higher rates in an effort to redistribute income to those who are less well off.