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Economy

Raising taxes on the wealthy won’t magically fix our inequality problem

Washington Post
 2021-06-15

Cover picture for the articleLast week I noted some of the problems with trying to attack inequality by taxing the wealth, or the unrealized capital gains, of billionaires: When you tax something heavily, you generally get less of it. And capital isn’t something we want less of; capital is what gets invested to make the economy more productive. A more productive economy means we all get more stuff for less work — and even if you think “more stuff” sounds dubious, surely “less work” has some appeal.

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