New Books in Economics John L. Campbell, "Pay Up!: Conservative Myths about Tax Cuts for the Rich" (Cambridge UP, 2025)
Sep 26, 2025
John L. Campbell, a retired sociology professor and author of "Pay Up!: Conservative Myths About Tax Cuts for the Rich," explores critical misconceptions about taxation. He debunks conservative claims that high taxes harm the economy, illustrating through cross-national comparisons that higher taxes can actually boost public investment and social equity. Campbell also challenges narratives about government waste and unfairness, arguing that tax revenues support essential services. His insights highlight the real benefits of taxation in promoting societal welfare and economic growth.
AI Snips
Chapters
Books
Transcript
Episode notes
U.S. Taxes Are Not Exceptionally High
- U.S. taxes are not unusually high historically or compared to other advanced economies.
- Effective rates after deductions are around average despite headline marginal rates.
Taxes Alone Don't Drive Growth
- Cross-national data show no strong statistical link between tax levels and economic growth.
- High-tax countries like Denmark can match U.S. performance because other institutions and spending choices matter.
How Danish Health Research Spawned Novo Nordisk
- Denmark used tax revenue to fund health research that indirectly fostered a major company, Novo Nordisk.
- That company became economically huge and altered how Denmark measures growth.
