What would a fair society look like?
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The Negative Effects of Higher Taxes on Economic Growth
There's a lot of debate about what the overall level of taxation should be. But countries like Denmark and Finland that have an overall tax take, a 10 or maybe 15 percentage points higher than America have experienced very similar longer term growth rates. And I think the explanation is that financial incentives just aren't as important as we are often led to believe in determining how much people work. We can't force people to work more if we increase taxes, but we can stop them from taking advantage of lower tax rates on capital income by equalising the tax on capital income versus income from employment," he says.
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