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Can Lower Tax Rates Really Create More Government Revenue?

The newest 5-minute course from Prager University makes the case.

PJ Lifestyle Daily Question


February 3, 2014 - 1:00 pm

Every week day a book excerpt, video, news story or some combination thereof to provoke spirited debate on controversial subjects. Have an idea you'd like to offer up for discussion? Email PJ Lifestyle's editor Dave Swindle: DaveSwindlePJM [@]

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The video makes important points on tax policy and of course that was its topic.
The video leaves out government-mandated costs that can reduce economic opportunity and activity as effectively as taxes do: minimum wage laws with their pressure on all wage scales (except, apparently, mine); environment regulation; zoning restrictions; a host of others.
Many have legitimate purposes: if you own property downwind from the new Sriracha plant, you may have a legitimate zoning interest in where their aromas go.
Others, especially minimum wage, either defy all economic sense or are overdone, resulting in harm much greater than the gains. But the gains are often focused -- "See the ten jobs at the wind farm!"-- and the costs are diffused (ten different businesses each fire two people due to rising energy costs), so the politicians often cooperate waaaay too easily, like johns on a prostitution sting.
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