….[Greenspan] says he supported the 2001 cuts because of pending budget surpluses, but now that huge deficits loom, new revenues are needed. Why? Brian Riedl of the Heritage Foundation says that since the cuts, “The rich are now shouldering even more of the income tax burden.” The deficit has grown not because we are undertaxed…
Taxes/Taxation
Economy, Government Spending, Taxes/Taxation
Krugman Is Wrong on Ryan and the CBO – McArdle @ The Atlantic
by JOHN ADAMS •
Laws/Regulations, Taxes/Taxation
Applying So-Called Sin Taxes Sensibly
by JOHN ADAMS •
In a recent column at Bloomberg, Amity Shlaes writes that not all sin taxes, taxes on supposedly harmful behaviors, are applied to best revenue-generating effect. Shlaes is author of the excellent The Forgotten Man: A New History of the Great Depression. She finds that Franklin Roosevelt understood the best way to implement a ‘sin’ tax…