Economics profs: 90% income tax rate would help the rich

Economics profs: 90% income tax rate would help the rich

It sounds like these professors graduated from the redistributive school of economics.

Christopher White of the College Fix reports.

Ninety percent income tax rate would help the rich, economics professors claim

Opposing economist asks why disincentives in carbon tax wouldn’t apply to income tax

Economists at the University of Pennsylvania and University of Bonn argue that the United States would be better off if well-heeled citizens paid the kind of high tax rates not seen since the Eisenhower administration.

According to a working paper by Bonn’s Fabian Kindermann and Penn’s Dirk Krueger published by the National Bureau of Economic Research, going back to the 1950s’ top marginal tax rate of 91 percent could be the elixir to cure the income inequality bug.

Krueger told the Huffington Post a rate “between 85 and 90 percent” makes everybody better off, including people in the 1 percent.

Continue reading →

Commenting Policy

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

You may use HTML in your comments. Feel free to review the full list of allowed HTML here.