Taxes and the Schadenfreude of the Rich April 7, 2011
It is unwise for a state to be too dependent on the fluctuating incomes of the rich – or, for that matter, in my view, any organization. Instead of this being made an argument for “lower taxes on the rich,” it could be just as easily made an argument for higher taxes on everybody else. We rich folks are not innocent of Schadenfreude and envy, any more than anyone else is.
Related: “The Price of Taxing the Rich” by Robert Frank at WSJ.com