“A key principle here is that the overall marginal tax rate matters. There is a tendency, especially on the left, to quote only the top Federal marginal rate of about 40%, and to say therefore that high income Americans pays less taxes than most of Europe. But that argument forgets we also pay state and sometimes local taxes.”
Read MoreThe health care problem, like so many others, is the result of making an economic problem a political problem. Our elected officials make promises in exchange for votes and power without paying for them. They hide the cost in cross subsidies, mandates, regulation, demonization, and wishful thinking.
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