GeofCox on Nostr: npub1ke2g8…xwvwj Great blog piece ...
npub1ke2g8yhwxtxr68vj75974l2kwu4thlkusdsmcvcgr5schpa5atrqnxwvwj (npub1ke2…wvwj)
Great blog piece (https://www.taxresearch.org.uk/Blog/2023/09/06/taxing-wealth-this-mornings-twitter-thread/), reflecting what is clearly very important work on making the UK tax system work properly.
I don't suppose anybody will nowadays have the gall to argue against a just system from the 'laffer curve' standpoint, since it has been exposed as nonsense. The argument will rather be that biasing the tax system in favour of the rich facilitates investment - so economic historians need to add to the argument that there is no correlation between high marginal tax rates and low investment, or low growth - indeed the statistics tend the other way. Plus of course the 'Spirit Level' argument that more equal societies are happier - indeed even the rich are happier in more equal societies.
Great blog piece (https://www.taxresearch.org.uk/Blog/2023/09/06/taxing-wealth-this-mornings-twitter-thread/), reflecting what is clearly very important work on making the UK tax system work properly.
I don't suppose anybody will nowadays have the gall to argue against a just system from the 'laffer curve' standpoint, since it has been exposed as nonsense. The argument will rather be that biasing the tax system in favour of the rich facilitates investment - so economic historians need to add to the argument that there is no correlation between high marginal tax rates and low investment, or low growth - indeed the statistics tend the other way. Plus of course the 'Spirit Level' argument that more equal societies are happier - indeed even the rich are happier in more equal societies.