Econ Comments & Analysis
Forbes | Estate Taxes Are Indeed Immoral
Michael Tomasky wrote a severely misguidedcolumn for The Daily Beast this week in which he not only argued in favor of wealth and estate taxes, but even declared such taxes moral. He advanced four arguments to support this position: that heirs don’t deserve great wealth, that society helped make such achievements possible and therefore deserves a share of the wealthy’s riches, that wealth taxes do not reduce incentives to entrepreneurship, and that the estate tax only applies to a tiny number of people. Let me rebut each of these arguments in turn.
Forbes | How President Obama Can Get His Big Bank Tax Without Congress
I know that it’s traditional around here to decry any method of extracting more money from the economy for the wastrels in Washington to squander but I have to admit that I take the basic idea that President Obama has proposed, a tax on the liabilities of the biggest banks, to be a good idea.
