
#154 Dr. Art Laffer: We Are In The Middle Of A Massive Redistribution Revolution And It's Destroying Growth
The Julia La Roche Show
Analyzing the Effects of Income Redistribution
Income redistribution involves taking from those with more and giving to those with less. This process reduces the incentives for both groups to work, leading to an overall decrease in total income. The more income is redistributed, the greater the reduction in total income. If income redistribution was done to make everyone's income equal, it would result in total income being reduced to zero by taxing those above the average income 100% and subsidizing those below the average income up to the average income.
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