by Greg Krehbiel on 17 April 2017
I was just reading an article at NPR on public misconceptions about tax rates, the main point of which is that public perception doesn’t match reality. (Is that a surprise?)
My reaction to the story is very different. Why do we have national tax brackets at all?
The problem with a national tax bracket is the same as the problem with a national minimum wage. On the low end, $10/hour in Manhattan is not the same as $10/hour in Biloxi, and $200,000/year is quite different in both places as well. Setting a national standard on either side is ridiculous.
Such disparities argue for a sliding scale based on local realities. That would make it a little harder to demagogue on the campaign trail (what a loss), but I think it’s the right way to go.
2017-04-17 » Greg Krehbiel