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What's the evidence you are referring to? I was listening to Thomas Sowell recently and he made some comments that sounded quite the opposite of what you say -
by collyw 6y ago
What's the evidence you are referring to?
I was listening to Thomas Sowell recently and he made some comments that sounded quite the opposite of what you say - that lowering taxes resulted in increased revenue. It's clearly different times and places that you / he are referring to, I am interested in learning a bit more.
- carlob 6y agoFor example look at Plots 11.12 to 11.15 here[0], which show an inverse correlation between growth and inequality and a direct correlation between tax rates and inequality. There are some pretty simple arguments that would justify this: one individual with 20 times the average income is going to spend less than 20 individuals with the average income. Note that I'm not arguing for some Soviet-level of extreme equality, I'm just saying that the US in the 60s or Sweden from WW2 onward are much healthier economies than Europe during the Belle Epoque or the US nowadays. [0] http://piketty.pse.ens.fr/files/Piketty2019GraphiquesTableauxLiens.pdf http://piketty.pse.ens.fr/files/Piketty2019GraphiquesTableau...