[lbo-talk] Comments on WSJ article "The Price of Taxing the Rich"

Doug Henwood dhenwood at panix.com
Tue Mar 29 09:46:40 PDT 2011


On Mar 29, 2011, at 12:31 PM, Bryan Atinsky wrote:


> Those are all good answers, but for a slightly different argument. What I thought was novel about the argument in the article, was that it attacks the issue of taxing the rich from another position. It somewhat sidesteps or anticipates our usual counterarguments and argues that the volatility of a tax base that relies on the income of the wealthy is problematic, not so much that taxing the wealthy in and of itself stifles the economy (though there are hints to that in the article).

It's problematic when the stock market isn't doing well (as it didn't in 2008 and early 2009). It's less problematic now. High-end incomes have recovered a lot more than those further down.

Doug



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