Harvard economist Greg Mankiw offered a unique observation following the release of the findings of a CBO study on the effective marginal tax rates that many Americans really pay on their incomes, after taking into account any government assistance they might receive and the income levels at which their welfare benefits phase out:The Congressional Budget Office has a new study of effective federal marginal tax rates for low and moderate income workers (those below 450 percent...
There is no such thing as a "fair" or "perfect tax system. Invariably, someones money will be "wasted" on something said individual disapproves of. I might dislike welfare, while the welfare queen hates national defense. Viva la revolcuion.
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