THE ILLUSORY TAX BASE: WHY TAXES ON CAPITAL ARE COUNTERPRODUCTIVE |
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| Authors: | Barry Bracewell-Milnes |
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| Affiliation: | Barry Bracewell-Milnes is the author of some two dozen books on fiscal and economic policy and of Is a Mast a Must? How to Fight off Intruders;, an account of a successful campaign against the proposed installation of a telecommunications mast. |
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| Abstract: | Taxes on capital are economically and socially counterproductive. The economy and society would benefit from their abolition. The obstacle to their abolition is not financial or economic but a failure of political will. This article looks at taxes on capital from an economic perspective: how do they differ from other taxes, what costs do they impose on the economy, and what are the consequences of their abolition? And, even if they are a failure economically, can they be justified socially or politically? |
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