December 5, 2012

WE ARE ALL NEOCONOMISTS NOW:

TAX VOBISCUM (HENDRIK HERTZBERG, 12/05/12, The New Yorker)

[C]utting (or eliminating) the payroll tax is a remarkably good idea. By the same token, the payroll tax itself is a remarkably bad idea, and not just because it's regressive. The payroll tax is a bad idea because it's a tax on jobs--and jobs are something we want more of, not less of. It's not a tax on "job creators" who may or may not get around to creating a job sometime. It's a tax on job creation itself. [...]

By all means let's have a stiff carbon tax--a whole carbon-tax package, one that folds in levies on other pollutants and on the wasteful or dangerous use of natural resources in general. And, at the same time, let's make the carbon tax the source of the trust fund. Call it the Dignity for Seniors tax, because that's what it would provide. Or the National Patrimony tax, because that's what it would preserve. Or the Social and National Security tax, because it would underwrite both kinds.

Or, maybe, the More Payrolls Tax. As John Marshall and Daniel Webster long ago pointed out, the power to tax involves the power to destroy. With the More Payrolls Tax, we would no longer be using that power to destroy jobs.
Posted by at December 5, 2012 6:54 PM
  
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