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Economist’s View: Save Capitalism from the Capitalists by Taxing Wealth

‘Save Capitalism from the Capitalists by Taxing Wealth’.

I find this interesting, especially as our relatively slow recovery is caused by a lack of spending. A lot of capital is stagnant, and even the stock market only generates a moderate fraction of direct spending compared to most stimulus applied to the middle and lower class. It would stand to reason, then, that a progressive tax on wealth would have fewer perverse incentives than a progressive tax on income.

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