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Thoughts on Economics and Economic Policy

Archive for March 2012

Republican “Intellectuals” View Life as a Game

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Alec MacGillis writes about Mankiw’s defense of the tax treatment of carried interest. At the end he (doesn’t) link to Matt O’Brien who links to a Mankiw blog post saying the exact opposite.

This is what I mean when I say that those academics and other public intellectuals on the right view this whole thing as a game. It’s not about doing what’s right and it’s not even about doing what you believe to be true. It’s about confusing the issue so that your masters can do what they want.

But it’s not a game. Allowing hedge fund managers to pay 15% in federal income taxes instead of 35% robs the Treasury of much needed revenue, putting a burden on current and future tax payers. It also increases inequality in a way that simply didn’t happen fifty years ago.

Written by Liam C Malloy

March 6, 2012 at 1:01 pm