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by rrrrrrrrrrrryan
1846 days ago
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You joke, but some types of taxes are objectively worse than others. An ideal tax would have to generate sufficient revenue, be non-distortionary, inexpensive, and fair. We can argue about what's "fair" all day, but "inexpensive" is more objective: some taxes hamper more economic activity than others. A $1 tax on a stock trade will reduce exactly $1 of economic activity. It's so expensive, it's basically pointless. A land value tax, on the other land, is almost free. (And in some cases, negative!) Most taxes fall somewhere between these two extremes, but corporate income taxes are one of the most expensive, which is why economists aren't big fans of them. |
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