Your fair share of taxes
The Economist pens an interesting article on the idea of “your fair share”.
This raises an interesting question: what is your “fair share"? Politicians seem to say if you’re part of my base your fair share is zero. But let’s first acknowledge that probably everyone will have to pay something and then indulge the normative question: who should pay what if the goal is fairness? To me, fairness would suggest taxing behaviour that poses a negative externality to everyone else. Pollution is the obvious example. Fairness can also mean not taxing things you want to encourage, like working and saving, which bolster long-term growth. Instead you’d tax consumption.