Economics @ ITT

6 Dumb Arguments Against Taxing the Rich, Explained

Posted in economics, oligopoly, Taxation by ittecon on September 19, 2011

On Saturday, the Obama administration unveiled the “Buffett Rule,” a proposed tax on millionaires and billionaires named after celebrity investor Warren Buffett, who has long argued that the federal government should demand more of the wealthy. The millionaires tax is certain to become a major point of contention in the 2012 presidential campaign, and Republicans have wasted no time in heaping it with calumnies. Here are the six most popular conservative arguments against a progressive tax code, and why they’re wrong:

via 6 Dumb Arguments Against Taxing the Rich, Explained | Mother Jones.

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