Here are two stunning figures from the liberal Urban Institute. If someone is facing anywhere near a 100% marginal tax rate, would they actually go out and work harder? There is in fact a wide range of income for this hypothetical family with two children where the effective marginal income tax rate is above 80% for the range of income from about $15,000 to over $40,000. The effect on people's incentives to escape poverty is obvious.
- Name: John Lott
- Location: Virginia, United States
My commentary on a broad array of economics and crime related issues.
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Copyright 2005 by John R. Lott, Jr. All rights reserved
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