Tuesday, January 1, 2013
Cochrane vs The New York Times on Taxes
Take a look at John Cochrane's post on the New York Times December 30 editorial on tax policy. What the Times never makes clear, and what Cochrane continually reminds them, is that social wealth is the product of the number of people we have working and their average productivity. A complex, chaotic and highly progressive tax code that kills incentives is a sure step toward slow growth and a lower standard of living.