Argument: Flat tax encourages wealthy to re-engage the economy


Joel Kotkin. “Obama’s off-target class war.” Politico. October 12th, 2011: “So how best to confront America’s growing class division? With serious economic growth beyond Wall Street. A flatter tax system with fewer exemptions, limiting trusts and foundations and ending the preference for capital gains would force the wealthy to re-engage the economy. They would have fewer ways to hide their money. Sweep aside both subsidies for oil and gas companies and the renewable industry, regulate sensibly and market forces can drive exploration and development.”