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This article seems to argue "Taxing the rich leads to reduced growth and therefore all of society is worse off for it." That every extra $1 the rich makes lead
by JamesBarney 11y ago
This article seems to argue "Taxing the rich leads to reduced growth and therefore all of society is worse off for it." That every extra $1 the rich makes leads to a economy wide increase in $1.10. If this were true we would want to reduce taxation levels of the rich considerably. And we would expect inequality to be associated with very strong growth.
Luckily we don't have to just speculate. The IMF has done in-depth research on this topic. And they found found that not only is growth not associated with inequality, but there is evidence inequality actually leads to lower growth rates.[0]
[0]https://www.imf.org/external/pubs/ft/sdn/2014/sdn1402.pdf https://www.imf.org/external/pubs/ft/sdn/2014/sdn1402.pdf
- ConfuciusSay 11y agoYou know when even the IMF is recommending we tax the rich more, there's probably something to the idea...
- wtbob 11y ago> This article seems to argue "Taxing the rich leads to reduced growth and therefore all of society is worse off for it." No, that's the utilitarian argument, which the article specifically considers unsatisfying, instead proposing an argument from justice.