Class Warfare Makes Bad Economics

Daniel Mitchell at the Cato Institute presents an analysis of why class warfare, while potential satisfying emotionally to those in lower economic categories, is very bad for a local economy. Citing a recent report from the New Jersey Business News, Mitchell looks in particular at New Jersey, and how the massive tax hikes in that state in the past several years have caused wealthy people to leave the state, at a net loss of wealth for the state of almost $70 billion.

Mitchell further explains in a video the problems with class warfare tax policies, included below.

Advertisements

, , ,

  1. Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: