High tax rates prompt people to spend money on the tax lawyers and finance wizards who design those skillful evasions. For the lawyers and the finance guys, this is a boon. But for the overall economy, it’s a significant loss. The money these taxpayers spent on legal fees and complicated financial constructions could have been invested in ways that

For the U.S. personal income tax, fixing the whole damn thing means that the whole boatload of exemptions, exclusions, and tax-free income clauses should be jettisoned. If the employer pays part of a worker’s health insurance premium, that’s a fine thing, but the payment should be taxable income to the worker. If a taxpayer decides to buy a $105,00

Why are capital gains taxed less than income from work?