We are in the middle of a nine-day debate at The Economist on the proposition that “the rich should pay higher taxes.” I’m on the “no” side of the proposition. French economist Thomas Piketty is on the “yes” side, arguing that we ought to impose an 80 percent tax on those with the highest incomes.
I need help! Thus far, readers are favoring Piketty 57 percent to 43 percent. Please go to the site and register your vote.
Are website visitors actually reading the statements, or do their votes just reflect their existing political biases? Are they mainly Europeans or Americans? We don’t know, but majorities in favor of 80 percent tax rates does not bode well for economic freedom.
On Friday, Piketty and I post our rebuttals to opening statements, and next week we make closing arguments.