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McQuaig versus Reynolds [taxation & inequality]
Wednesday, September 29th, 2010
Sept. 28, 2010
If only tax policy could be so simple: Tax the rich and everybody else gets richer and incomes get equalized. Even more complicated is the underlying assumption of the equality seekers, including Linda McQuaig and Neil Brooks, whose premise is that there is some optimum level of inequality… In a forthcoming paper for the Cato Journal I use data from Piketty and Saez to show that most growth of top 1% incomes since the 1986 tax reform has been the result of shifting income from corporate tax forms to individual tax forms… There were also unusually large increases in reported capital gains and dividends after those tax rates were cut in 1997 and 2003.
Tags: ideology, poverty, standard of living, tax
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