Ep. 171 The Economics of Soaking the Rich
Paul Krugman loves Alexandria Ocasio-Cortez, and says her suggestion for a much higher top marginal income tax rate is actually well founded and economically sound. Now if the column were just about that, it’d make for a great episode of Contra Krugman. But the way Krugman speaks of “the rich” is downright sinister, and we hit that head on as well.
“The Economics of Soaking the Rich” (January 5, 2019)
Bob explains why Krugman is wrong on rich people not contributing to society:
“Does a Worker Help the Rest of Society?” by Bob Murphy
Bob summarizes economics literature on taxes and growth:
“What Economic Research Says About Fiscal Austerity and Higher Tax Rates,” by Bob Murphy
Phil Magness explains the high marginal income tax rates of the postwar era:
“The Rich Never Actually Paid 70 Percent,” by Phillip W. Magness
Related Episode, Tom Woods Show
Ep. 1314 Ocasio-Cortez Wants 70% Top Marginal Tax Rate
Need More Episodes?
The Contra Cruise!
Join us as we set sail for Alaska, July 5-12, 2019!