Taxing the Rich Won’t Slow Innovation

But it would slow exploitation

Photo by Mateusz D on Unsplash

Every time a politician proposes raising taxes on the wealthy, we hear the same chorus of objections. We’re told that if the fabulously wealthy aren’t allowed to keep their money, we’ll all suffer. According to the conservative Manhattan Institute,

Wealth taxes distort behavior in a way that is harmful to economic growth and…