Rationalizing Redistribution
futureofcapitalism.com

The final paragraphs of a Bloomberg News article on the Obama administration's effort to raise taxes on the "rich":

James K. Galbraith, a University of Texas economist and author of the 1998 book "Created Unequal: The Crisis in American Pay," said the Obama strategy should be seen as a first step toward rebalancing the tax system.

"We don't need higher taxes, we need better taxes," Galbraith, a former executive director of the Joint Economic Committee, said in a phone interview. "Putting income in the hands of people who need it, and not in the hands of people who don't, is the right economic policy."

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Rationalizing Redistribution
futureofcapitalism.com

The final paragraphs of a Bloomberg News article on the Obama administration's effort to raise taxes on the "rich":

James K. Galbraith, a University of Texas economist and author of the 1998 book "Created Unequal: The Crisis in American Pay," said the Obama strategy should be seen as a first step toward rebalancing the tax system.

"We don't need higher taxes, we need better taxes," Galbraith, a former executive director of the Joint Economic Committee, said in a phone interview. "Putting income in the hands of people who need it, and not in the hands of people who don't, is the right economic policy."

Read More...