Taxing the 'Rich'
futureofcapitalism.com

An economics professor at Cornell University's Johnson Graduate School of Management, Robert H. Frank, has a column in the Sunday New York Times business section arguing for tax increases. "If the top tax rate were to rise, as scheduled, from 35 percent to 39.5 percent — its level during the Clinton era — many top earners would spend a little less on cars and parties," he writes. "The resulting revenue, however, could do a lot of good for our struggling economy. In the short term, it could be used for grants to state and local governments, which have been forced by their own revenue shortfalls to lay off hundreds of thousands of workers."

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Taxing the 'Rich'
futureofcapitalism.com

An economics professor at Cornell University's Johnson Graduate School of Management, Robert H. Frank, has a column in the Sunday New York Times business section arguing for tax increases. "If the top tax rate were to rise, as scheduled, from 35 percent to 39.5 percent — its level during the Clinton era — many top earners would spend a little less on cars and parties," he writes. "The resulting revenue, however, could do a lot of good for our struggling economy. In the short term, it could be used for grants to state and local governments, which have been forced by their own revenue shortfalls to lay off hundreds of thousands of workers."

Read More...