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So many politicians confidently propose solutions to complex systems such as the economy, yet some do not even understand basic things, such as the three branch
by plainOldText 8y ago
So many politicians confidently propose solutions to complex systems such as the economy, yet some do not even understand basic things, such as the three branches of the government. [1]
I saw recently on Paul Graham's twitter feed a paper that made the case for a 29% tax rate.
From the paper: "the rate that incorporates innovation and maximizes a utilitarian social welfare function is just 29%." [2]
I'm not saying I agree with the paper, but at least it provided a mathematical framework for studying taxation and considered important things such as incentives, innovation and economic growth, which in my view is a good starting point.
[1] https://www.youtube.com/watch?v=N2xDm-Y4l_4 https://www.youtube.com/watch?v=N2xDm-Y4l_4
[2] https://www8.gsb.columbia.edu/faculty-research/sites/faculty-research/files/finance/Macro%20Workshop/toptax.pdf https://www8.gsb.columbia.edu/faculty-research/sites/faculty...