Monday, July 22, 2013

Beltarian Tyler Cowen on Taxes

In NYT, he writes:
Historically, economists — including me — have generally favored taxes on consumption, on the grounds that they would do the least damage to long-term savings, investment and economic growth. Yet in some eyes, rising wealth will become a tempting target for short-term political gain. And note that while most Republicans currently oppose consumption taxes, they may dislike the relevant alternative, namely wealth taxes, even more.
Get ready to choose a side.
Cowen  is always subtle and leaves deniability as to what he really means, however, it must be asked, "Why isn't Cowen calling for lower taxes?" It seems to be a terrible interventionist pose to advice that the choice is limited to raising taxes and that the only choice is the type of tax to be raised.

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