There is an interesting discussion about taxing the rich and its pitfalls.
It is such a simple formula, which unfortunately Development economics fail to acknowledge with their blind follow up of the Differential taxing regime. I am not rich, but I am still not in support of taxing the rich excessively. Actually, rich are the one who facilitate capital formation and investment, which is necessary for economic growth. But at the same time, inheritance tax should be there as this leads to creation of inequality.
It is such a simple formula, which unfortunately Development economics fail to acknowledge with their blind follow up of the Differential taxing regime. I am not rich, but I am still not in support of taxing the rich excessively. Actually, rich are the one who facilitate capital formation and investment, which is necessary for economic growth. But at the same time, inheritance tax should be there as this leads to creation of inequality.
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