|Wednesday, February 27, 2008||(Comment)|
The myth of progressive taxation
By “progressive” income taxation and “means-tested” welfare, governments make a great show of taking from the rich and giving to the poor. Of course this pretense conveniently ignores such things as “business” deductions, concessional taxation of capital gains, and (in the USA) the capping of the personal component of payroll tax. But most importantly it ignores the fact that the spending of taxpayers' money on infrastructure, together with general economic growth and population growth, adds value to land...
Read the rest: Alternative Economic Review No. 5 (reposted to the LVRG Scrapbook).
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