Sunday, December 30, 2012

The labor incentive effects of raising income taxes--a personal view

I like the stuff I buy.  If you raise my taxes, I will probably consult a little more so I can keep buying that stuff. This is the income effect being more important than the substitution effect.  I know that it is for me, and I am pretty sure it is for lots of others, as well.


5 comments:

The Bear said...

Agreed.

Acad Ronin said...

On the other hand, my wife just retired and I lost one of my part-time jobs. We will be cutting back.

Kris Krohn said...

That's correct

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