Monday, March 30, 2009

I'm at a loss...

...on how to begin to address this idiocy.

If you remove the incentive for the best and the brightest to stay, they will go somewhere they will be appreciated(read: properly compensated). This is not a solution to the "problem" of executive pay, and it is certainly not any of the government's business.
What if we had a 95 percent marginal tax rate on income over $10 million? What dire consequences would flow from this? Perhaps a certain outflow of top-flight baseball talent to Japan. But I don’t see this leading to any kind of economic calamity. Producers of certain classes of supply-constrained luxury goods would lose out as their prices go down.

The dolt even recognizes the problem, but refuses to acknowledge that it is a problem. Is this willful stupidity?

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