We can’t tax the rich

Republicans are thought of as the party of the rich. Now Thomas Edsall writes in the NYT: “the share of contributions to Democrats from the top 0.01 percent of adults . . . has grown from about 7 percent of total campaign contributions in 1980 to more than 25 percent of contributions in 2012.”

Since even Democrats get so much money from rich people, it’s not surprising that we don’t tax the rich more.

We could start by reinforcing the now-puny estate tax.  The arguments that death taxes inhibit enterprise are pretty far-fetched.

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Author: patoglesby

From 1982 to 1990, I worked in tax policy for Committees of the United States Congress. In recent years, I was Adjunct Lecturer at UNC-Chapel Hill's Business School and then Adjunct Professor at its Law School.

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