March 30, 2011 | 1 Comment
Via Twitter, Stephen Gordon links us to an old post of his at Worthwhile Canadian Initiative, explaining how progressive economic policy need not be linked to a high Corporate Income Tax rate. There’s lots of charts and graphs, but, to me, here’s the money line (for context, he’s noting that an increase in the CIT will cause a decrease in stock prices):
A reduction in stock prices hits the values of pension funds as well. An ethical framework that treats a retired school teacher as equally deserving of punishment as Scrooge McDuck is perhaps something that should be rethought.