Political Economy: Soak the Rich Department
Of course, nobody is talking about soaking the rich. A very mild moistening is the most radical thing being proposed...
Ryan Avent tells us:
Political economy: Soak the rich: THIS is a remarkable piece of video. The setting is a Wisconsin town hall meeting between Congressman Paul Ryan and his constituents.... The problem for Paul Ryan, and for Republicans generally, is that entitlement programmes are incredibly popular and taxing the rich is incredibly popular. The problem for Barack Obama, and for Democrats generally, is that taxing the rich doesn't yield enough money to pay for entitlement programmes. But don't think for a minute that Americans are unwilling to raise tax rates on top earners.
