On Wednesday, the Adam Smith Institute posted that the singer, Adele, joined the argument for low-taxes. The broad argument that the ASI gives is that high taxes stifle growth as owners of such wealth decide they want to vacate the tax authority – victims of the Laffer curve, so to say. There’s also the argument that, despite the high taxes, the return for the taxes is not in correlation to the tax.
There are lots of people out there who wonder why they have to cough up so much of the money they earn just to pay for late trains and bad schools.
As Keynesians, we are going to suggest something not all the different. However, the motivation behind it will be different. Where the ASI is arguing for a tax cut because it limits personal freedom, we will be arguing for a tax cut because it will drive…
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