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A review by ronb
The Triumph of Injustice by Gabriel Zucman, Emmanuel Saez
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