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ehershkovitz's review
5.0
If you are getting too cynical about the current wealth distribution in the United States this book will change your mind. We can fight back!
logantmartin's review against another edition
challenging
informative
fast-paced
3.5
A bit less data-forward than Piketty, Saez and Zucman spend most of their energy writing rhetorically rather than logically. I more often found myself being argued with than explained to. It also seemed to me that the authors placed the blame for spiraling weath inequality solely on a decline in taxation rather than on a diverse range of causes.
Still, their hyperfocus on taxes means that Saez and Zucman are highly solution-oriented in their writing. They pinpoint three problems with the tax code that have lead to inequality: reduction of the income tax, corporate tax competition, and the lack of a substantial wealth tax. They propose things like taxing capital gains the same as labor income, a minimum corporate tax of 25% regardless of where a company stores its profits, hiking the top marginal income tax rate, and an overall attitude of curbing obscene wealth.
If you're seeking to learn more about the tax code, this is certainly the book for you. While a little narrow for my taste, I learned a great deal and deepened my knowledge of the decline in taxation and how to reverse it.
Still, their hyperfocus on taxes means that Saez and Zucman are highly solution-oriented in their writing. They pinpoint three problems with the tax code that have lead to inequality: reduction of the income tax, corporate tax competition, and the lack of a substantial wealth tax. They propose things like taxing capital gains the same as labor income, a minimum corporate tax of 25% regardless of where a company stores its profits, hiking the top marginal income tax rate, and an overall attitude of curbing obscene wealth.
If you're seeking to learn more about the tax code, this is certainly the book for you. While a little narrow for my taste, I learned a great deal and deepened my knowledge of the decline in taxation and how to reverse it.
ronb's review
4.0
Good economic analysis and history of taxation and its outcomes. Well researched and principled with good points. Can be boiled down to:
- inequality is worthwhile to solve for policy makers
- current taxes are flat/regressive in the US + Europe because labour is taxed more than capital. This can be fixed with taxing capital more, curbing tax evasion and anything against the economic substance doctrine (which is hard because there's an entire tax industry built around this), and a wealth tax. Healthcare in the US amount to a poll tax
- competing tax rates are unsustainable for globalization and a 0% corporate tax in countries such as Bermuda serves as a negative externality for other nations. Multinationals don't actually shift their assets to these areas, just paper profits.
- Trickle down economics has little supporting evidence in practice
- Growth of national income and its share for most has not risen since the 1980s
- inequality is worthwhile to solve for policy makers
- current taxes are flat/regressive in the US + Europe because labour is taxed more than capital. This can be fixed with taxing capital more, curbing tax evasion and anything against the economic substance doctrine (which is hard because there's an entire tax industry built around this), and a wealth tax. Healthcare in the US amount to a poll tax
- competing tax rates are unsustainable for globalization and a 0% corporate tax in countries such as Bermuda serves as a negative externality for other nations. Multinationals don't actually shift their assets to these areas, just paper profits.
- Trickle down economics has little supporting evidence in practice
- Growth of national income and its share for most has not risen since the 1980s
juliakaye's review
5.0
Really loved this book. Easy to understand, concise but gave me enough information to clearly know the point of the chapter, and gave really good solutions to the problem of inequality in taxes. Highly recommend!!
jasonfurman's review
(I will be doing a longer review in the future and will link to it here.)
maaaans's review
4.0
Would highly recommend if you’re trying to better understand the tax structure in the US, particularly the regressive nature of the current system and how tax avoidance operates. It’s also very readable and fairly accessible for a subject that is often presented as convoluted and dry.
The sections on the overall tax structure, corporate taxes, and the wealth taxes were the strongest. The last chapter on the national income tax plan felt less developed and a bit detached from the preceding content. Overall, a good read that presents many crucial and viable tax solutions.
The sections on the overall tax structure, corporate taxes, and the wealth taxes were the strongest. The last chapter on the national income tax plan felt less developed and a bit detached from the preceding content. Overall, a good read that presents many crucial and viable tax solutions.