01/09/2020 Gary Galles
Discussions about the incentive effects of taxes can be misleading. The focus is usually on the tax rates imposed. But one’s incentives are not best measured by tax rates, but by how much value created for others (reflected in consumers‘ willingness to pay) is retained by the creator, ……………………
https://mises.org/wire/low-tax-rates-often-mask-much-larger-tax-burdens