Tuesday, 29 November 2011

Brisk non-partisan review of tax rationales

Not for the faint of heart but refreshing and non-partisan:. All tax types briskly reviewed for underlying assumptions. Are wages more virtuous than dividends?  When does a public-spirited exemption become a tax on the poor?  What is a "fair share"?  If a few should pay a lot, should everyone pay a little? Despite the US spin,  most applies to Canada..  Perhaps the author underestimates the power of new enterprise and wealth to change the equation.  Linked by John Mauldin to Howard Marks of Oaktree Capital. (see picture), about 25 pages worth.

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