In comments to my previous post, Robert requested the unsmoothed data from Graph 3. Here it is. GPDI is plotted against the Capital Gains Tax Rate. Since the Capital Gains Tax Rate (X-axis) is quantized, the result is columns of data. Compared to the smoothed version, there is little change in either the slope or […]
Matt Yglesias, servitor to our corporate overlords, suggests that the reduced capital gains tax rate paid by rentiers like Willard Romney is really a very, very good thing. To wit: The main reason Romney’s effective rate is so low is that the American tax code contains a lot of preferences for investment income over labor […]
by Kenneth Thomas of Middle Class Political Economy Greg Mankiw doesn’t understand competition for investment Greg Mankiw’s column in Sunday’s New York Times makes the case that competition between governments is a good thing, that it makes them more efficient in the same way that competition among firms does. He paints it as also being […]