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How Lowering Taxes on the Rich Can Raise Revenue: Amity Shlaes

Feb. 2 (Bloomberg) -- Tax the rich. Forever. And not just in election years. The general assumption is that rate increases will be the new norm. The main reason for this is said to be democracy itself.

We have reached the point where just about half of all taxpayers, the lower-earning households, pay almost no income tax. Voters have no reason to endorse a tax cut that’s not for them. The group that pays high rates represents an electoral minority.