Corrections to the blogosphere, the consensus, and the world

Friday, February 05, 2016

Age whistling in the wind


We are now talking of simplifying the tax system by reducing the number of tax brackets.  While eliminating the inefficiencies of multiple disruptive transitions may have been a progressive reform back in 1916, we are now living in the twenty-first century, and there’s no need to have any brackets at all.  No, not a flat tax – just a continuous curve fitting a simple equation (a logarithmic trendline on the current levels seems a reasonable fit).  We couldn’t do that in 1916, or 1956, because we didn’t all have access to computers or smartphones or pocket calculators.  Now we do. Why are we deliberately hobbling our tax system by pretending we have to add all this up on our fingers? 

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