Monday, January 7, 2019

People Migrate Both To the US and Within It to Maximize Earning Potential

Just as people migrate from California, Illinois, Connecticut and New York to states like Florida, Texas and Arizona where they can earn more and be taxed less, so do ambitious people from foreign countries migrate to the US in order to maximize their earning potential. Asian countries in particular are suffering a "brain drain" of their most talented individuals. 


Friday, January 4, 2019

High Marginal Tax Rates Do Not Generate More Tax Revenue

The current media darling , Alexandria Ocasio-Cortez, was on TV yesterday telling Anderson Cooper that she would pay for all her lavish spending plans with higher tax rates on the "tippy-top" earners (didn't we used to mock Valley Girls?). But reality (as opposed to whatever is playing in AOC's head) tells us that revenues are not affected much by what the top marginal rate is. So what would be the point of a higher top tax rate? Other than to pander to people who are just as ignorant as you.