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Government increase tax rates to equalize incomes and wealth

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Should the government increase tax rates on everyone as a way to equalize incomes and wealth?

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Solution Summary

The expert determines if the government increases tax rates on everyone as a way to equalize income and wealth.

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There is an excellent metaphor for tax redistribution that is typically called the "leaky bucket".

Think of the rich as a pond, and the poor as another pond. Think of the water in the ponds as money. As the government transfers money between the ponds, they are forced to use a bucket with holes in it. The government can transfer ...

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