"the top marginal tax rate should be only about 20 percent; and moreover, it should be about the same 20 percent for everyone ...
I must confess that I had expected the rigourous analysis of income taxation in the utilitarian manner to provide arguments for high tax rates.
It has not done so."
"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics."
Professor Thomas Sowell, PhD, incisive American economist, social theory, philosophy. Prolific author in race relations, education, decision-making, and practical economics