Daily Archives: December 7, 2015

The risks of over-taxing the rich in a progressive tax system

“The wealthy get all the tax breaks.” How many times have you heard that saying before? Probably more times than you could care to remember. Many people in today’s society think that the rich get all the tax breaks. But is this really the case? Consider the parable below first devised by Professor David R. Kamerschen of University of Georgia. The bar stool economics piece aims to show that people are too narrow minded when it comes to ‘big picture’ things like Tax breaks, and thus they make assumptions without knowing the true facts. Suppose that every day, ten men go out for beer and the bill for all ten […]