Latest post to DeLong's blog:
I agree that the Capital Gains rate (and worse, the Carried Interest Rule) are the absolutely most sickeningly unfair aspects of our tax code. Workers taxed more than financiers? Unfair and economically destructive as well. A low capital gains rate encourages cashing out, rather than re-investment. Plus, if the revenue is substituted from non-capital gains, consumer spending decreases, therefore the incentive for investment is reduced as well. But savings increases even as investment falls, meaning that asset speculation goes through the roof. Sound familiar?
Two tries, from original data then Google login, and both failed. I wonder if I'm on a bounce list now. It would be if they said why.
And I thought my posts were getting better.
I agree that the Capital Gains rate (and worse, the Carried Interest Rule) are the absolutely most sickeningly unfair aspects of our tax code. Workers taxed more than financiers? Unfair and economically destructive as well. A low capital gains rate encourages cashing out, rather than re-investment. Plus, if the revenue is substituted from non-capital gains, consumer spending decreases, therefore the incentive for investment is reduced as well. But savings increases even as investment falls, meaning that asset speculation goes through the roof. Sound familiar?
Two tries, from original data then Google login, and both failed. I wonder if I'm on a bounce list now. It would be if they said why.
And I thought my posts were getting better.
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