Saturday, November 01, 2014

Picketty and Saenz want us to imitate France. Because that's working so, so well.

They think 'screw the rich' tax rates are swell and argue that rates don't matter an assertion refuted by economists studying innovation. The number of billionaire innovators per million inhabitants is highly correlated with Anglo Saxon style countries with neoliberal policy mixes. Singapore, Hong Kong, Canada, the USA and Australia all have very high proportions of very successful innovators. The high tax social democracies free ride in this innovation giving nothing in return.

But I've always said that social democracy is the most selfish of ideologies: it preferences today's citizen's comfort over their descendants' prosperity. Thus the biological imperative of perpetuating your line through investments in offspring has been turned on its head: take from the future to perpetuate themselves.  It's as evolutionarily irrational as it is economically insane. And it's why populations are beginning to plummet in Europe.

More at the link.

http://www.aei.org/publication/job-economists-make-top-tax-rate-80-least-thinkable-really/

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