Why Inequality Matters… Great article!
I highly recommend this great article by Bill Gates on why inequality matters. It is a summary of his thought after reading Piketty’s Capital in the Twenty-First Century. Here is a summary from the Economist too.
I agree that taxation should shift away from taxing labor. It doesn’t make any sense that labor in the United States is taxed so heavily relative to capital. It will make even less sense in the coming years, as robots and other forms of automation come to perform more and more of the skills that human laborers do today.
I would love to see a move in the USA towards a VAT tax, similar to Singapore or the Uk or Canada. You tax luxury goods and other types of consumption, and lower taxes on hiring labor. It will be interesting to see if anything like this happens…
Recent Comments