Wednesday, April 13, 2005

Soaking the rich

Village Hampden has an excellent post on the drawbacks of taxing the well-off too much. Eventually as tax rates increase, tax revenues start to decline as well-off people work less or emigrate. This is an economics lesson that all parties should remember when looking to hit the wealthiest with higher taxes. Beyond that, who aspires to become comfortably off when so much is taken back by the state?

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