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“supply-side” in tax cuts? It depends where the money stops, if it ever does. Money is supremely fluid.

Where Gilder comes in is to assume the burden of championing the rich taxpayer, who is bound by circumstances to be a supply-sider. The wealthy can’t consume most of their income. At high tax rates in the top brackets, they have the alternative of looking for tax shelters or retiring to their yachts for Mediterranean cruises. Leisure is a good that can be measured against forsworn money. The way to get the rich man’s money working for the common people is to entice him to give up his tax-haven-supported leisure. Gilder does a great job of exposing the short-sighted and corrosive nature of populist envy of the wealthy. It is interesting to learn that some congressional Democrats are coming to agree with him.

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“supply-side” in tax cuts? It depends where the money stops, if it ever does. Money is supremely fluid.

Where Gilder comes in is to assume the burden of championing the rich taxpayer, who is bound by circumstances to be a supply-sider. The wealthy can’t consume most of their income. At high tax rates in the top brackets, they have the alternative of looking for tax shelters or retiring to their yachts for Mediterranean cruises. Leisure is a good that can be measured against forsworn money. The way to get the rich man’s money working for the common people is to entice him to give up his tax-haven-supported leisure. Gilder does a great job of exposing the short-sighted and corrosive nature of populist envy of the wealthy. It is interesting to learn that some congressional Democrats are coming to agree with him.