IMF: Tax the Rich to Improve the Economy

The International Monetary Fund has just completed a study that compiled data across time and space to conclude that taxation isn’t harmful for economies. Indeed, taxing the rich is actually very beneficial for any national economy because it stops inequality – which is an awful thing for both people and economic progress.

Labelled as the first study to incorporate recently compiled figures comparing pre- and post-tax data from a large number of countries, the authors say there is convincing evidence that lower net inequality is good economics, boosting growth and leading to longer-lasting periods of expansion.

In the most controversial finding, the study concludes that redistributing wealth, largely through taxation, does not significantly impact growth unless the intervention is extreme.

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