27 Sep Taxes Have Consequences: An Income Tax History of the United States
Taxes Have Consequences: An Income Tax History of the United States, coauthored by Arthur B. Laffer, Brian Domitrovic and Jeanne Sinquefield, will be released Sep. 27, 2022.
Taxes Have Consequences is the definitive history of the income taxand its effecton the economy. The top rate of that tax has determined the fate of the American economy, tax revenue from the rich, and the degree of poverty in the lower income cohorts. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s,tax revenues from the rich suffered, with corresponding negative effects on the well-being of the lowest earners.
Taxes Have Consequences explores the Siamese twin of the income tax: tax shelters. When tax rates go up, the rich earn less while sheltering more of what they earn. No wonder income inequality appears to improve: the rich report much less while lower earners simply earn less. The effect on lower earners—from higher taxes on the rich—is devastating in every case.
This book is on-topic, easy to read, and logically based on fact not fiction.