Pitchfork Economics with Nick Hanauer

How the Anti-Tax Movement Hijacked America (with Michael Graetz)

Aug 13, 2024

Michael Graetz, an esteemed author and expert in tax policy, dives into his provocative new book on the anti-tax movement's profound influence on American policy. He explores the movement's historical roots and its intertwining with issues of race and economic theory. Graetz advocates for innovative tax reforms like a carbon tax, aiming to address wealth inequality and promote a more equitable tax system. The conversation also critiques the complex dynamics of tax sentiment in the U.S. and its implications for public services and infrastructure.

52:56

Episode guests

Michael Graetz

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Quick takeaways

The anti-tax movement, rooted in historical events and racial sentiments, has significantly reshaped American tax policy and public attitudes.

Advocating for tax reforms like carbon and value-added taxes could create a more equitable system benefiting the middle class amid rising inequality.

Deep dives

The Case for Middle-Out Economics

Middle-out economics supports the idea that a healthy middle class is crucial for a thriving economy. Economic policies should prioritize the needs of the middle class rather than focusing solely on wealth at the top. This approach posits that when the middle class thrives, it benefits everyone, including the wealthy, leading to a more robust overall economy. The conversation emphasizes that Wall Street did not build the nation; rather, it was the hard work and prosperity of the middle class that laid the foundations for economic success.

Intro

2min

The Anti-Tax Movement: A Historical Perspective

28min

Wealth Disparities and Economic Implications

8min

Rethinking Tax Policy for Climate Solutions

9min

The Consequences of the Anti-Property Tax Movement in California

2min

Understanding U.S. Deficits and Economic Stability

2min

Reflections on Disappointment and Infrastructure Funding

2min

This week, Nick and Goldy are joined by Michael Graetz to discuss his new book, "The Power to Destroy: How the Anti-Tax Movement Hijacked America.” Graetz asserts that while the anti-tax movement is often overlooked, it has shaped policy by intertwining with issues of race and economic ideology, diverging from Keynesian economics in favor of neoliberal supply-side economics that results in extreme wealth accumulation at the top. He argues for major tax reforms, including a carbon tax and the implementation of a value-added tax, as potential solutions to creating a more equitable and sustainable tax code that would benefit the middle class. Their conversation also revisits the historical origins of the anti-tax movement in the United States and highlights how tax policy is not just shaped by economic theory— it’s also shaped by cultural and social differences.

Michael Graetz is a professor emeritus at Columbia Law School and Yale Law School and a leading authority on tax politics and policy. He served in the U.S. Treasury’s Office of Tax Policy and is the author and co-author of many books, including Death by a Thousand Cuts: The Fight over Taxing Inherited Wealth and The Burger Court and the Rise of the Judicial Right.

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Pitchfork Economics with Nick Hanauer

How the Anti-Tax Movement Hijacked America (with Michael Graetz)

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The Case for Middle-Out Economics

Historic Roots of the Anti-Tax Movement

Supply-Side Economics and Its Impact

Political Dynamics and Future Prospects

Remember Everything You Learn from Podcasts