Higher Tax Rates Can Stimulate Economic Activity
As the fiscal cliff approaches, many are concerned about the impact of increased tax rates on the U.S. economy. The almost universally accepted meme today is that higher tax rates, especially on those with higher incomes, will cause a drag on economic activity. Many people also take for granted that lower tax rates result in an increase in economic activity.
The reality, however, is far more nuanced, as both higher and lower taxes may cause an increase or decrease in economic activity....537 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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