When Great Britain raised income taxes to 50%, New York Times columnist David Brooks loved the idea. It'll be interesting to see whether he revisits the concept now that today Great Britain has announced that its economy, as measured in GDP, shrank in the fourth quarter of 2010. The government tried to blame it on the weather. Paul Krugman hasn't posted about it yet but I expect he'll blame it on premature fiscal austerity.
British Taxes and Growth
by Ira Stoll | Related Topics: David Brooks, Europe, Paul Krugman, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list