Work Incentives and Taxes on the Rich
10 November 2016 | Pago Pago, American Samoa
As I have been saying for years, higher taxes on the rich do not always create a serious work disincentive for them but often are a work incentives instead because they want to recoup the income they have lost to such higher taxes by harder work. I have personally felt the later effect, long with my partners and friends. Odds are it is a wash, as the empirical results of this study indicate.To be sure. some react adversely. So where does it net out?
We now have a study that tells us.
The result is Obama's 2013 tax hikes on rich didn't hurt economy, or rich. Neither slowed their income growth nor hurt the economy. This is what I expected, within usual ranges.