Academic

MEGAN MCARDLE: ?I confess, I am surprised to find out just how little money you can raise by slappi?

By Glenn Reynolds

MEGAN MCARDLE: “I confess, I am surprised to find out just how little money you can raise by slapping a 5.4% surtax on incomes above a million. I also wonder at what point serious political resistance to taxes sets in. I know, it’s common to claim that Americans are tax haters. But actually, Americans, even the wealthy, pay their taxes at a rate that would shock an Italian. We grumble, but in the end, we pay. But at some point, that changes.”

Indeed. Especially when the tax system is also losing moral capital.

Full post as published by Instapundit.com on July 16, 2009 (boomark / email).