If you tax people enough, they really will stop working. As Finland’s experiment with a universal basic income comes to an end, it’s worth pondering why the idea captivates so many on both Right and Left. It’s difficult for me to speak for those groups, I fear they think it has something to do with sticking it to The Man. I can only tell you why the idea appeals to hard-core classical liberals (similar to libertarians) like myself.
It’s the Laffer Curve.
Yes, I know, it’s a much-derided idea. If you tax the rich too much, they’ll all go fishing instead […]
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