Globalization, trade and other free market policies increase wealth. But the gains from trade are not being evenly spread among all citizens. People and politicians rage against foreigners. But it is the United States tax system, not trade, that ought to change, and wealthy Americans, not workers world-wide, who should be sharing the wealth. A nd it is the form of tax, not just its rate structure, that must reform, so that capital at last bears a meaningful share of the burden.
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Date of this Version
Edward J. McCaffery, "It's Tax not Trade (Stupid)" (July 2016). University of Southern California Legal Studies Working Paper Series. Working Paper 214.