Progressive Taxation and the Diminishing Marginal Utility of Income
Posted in Economics Problems, You Can't Have it Both Ways on Jan 4th, 2012
One justification for progressive income taxation is that a dollar of additional income to someone earning $600,000 per year in income is not valued nearly as much as a dollar of additional income to someone earning $18,000 per year. I’d like to point out three implications/observations based on this justification. If you use this as […]
