Income Inequality: Difference between revisions
From WikiDemocracy
Jump to navigationJump to search
No edit summary |
|||
| Line 1: | Line 1: | ||
<gallery mode="packed-hover"> | |||
Income Inequality Chart 1.png|[https://inequality.org/facts/income-inequality/ Income Inequality in the US] | |||
</gallery> | |||
=====‘Socialism for the rich’: the evils of bad economics===== | =====‘Socialism for the rich’: the evils of bad economics===== | ||
[https://www.theguardian.com/inequality/2019/jun/06/socialism-for-the-rich-the-evils-of-bad-economics The Guardian 6/06/2019] | [https://www.theguardian.com/inequality/2019/jun/06/socialism-for-the-rich-the-evils-of-bad-economics The Guardian 6/06/2019] | ||
| Line 5: | Line 11: | ||
The income tax cuts for the rich of the past 40 years were originally justified by economic arguments: Laffer’s rhetoric was seized upon by politicians. But to economists, his ideas were both familiar and trivial. Modern economics provides neither theory nor evidence proving the merit of these tax cuts. Both are ambiguous. Although politicians can ignore this truth for a while, it suggests that widespread opposition to higher taxes on the rich is ultimately based on reasons beyond economics. | The income tax cuts for the rich of the past 40 years were originally justified by economic arguments: Laffer’s rhetoric was seized upon by politicians. But to economists, his ideas were both familiar and trivial. Modern economics provides neither theory nor evidence proving the merit of these tax cuts. Both are ambiguous. Although politicians can ignore this truth for a while, it suggests that widespread opposition to higher taxes on the rich is ultimately based on reasons beyond economics. | ||
==Resources== | |||
[https://inequality.org/facts/income-inequality/ Income Inequality in the US.org] | |||
