Recommended:I Can Afford Higher Taxes. But They’ll Make Me Work Less.

There is an interesting article entitled I Can Afford Higher Taxes. But They’ll Make Me Work Less in today's New York Times. Yes, the rich can afford more taxes, and it certainly is an appealing, and frequently used, political cliche, especially among liberals, to promise to soak the rich. But there are consequences.

Much of what politicians do makes no sense economically. Minimum wages kill off low-skill jobs. Rent controls create housing scarcities. Higher taxes throttle investment. Subsidies create dependencies. Prohibitions and sanctions create wealthy smugglers. It doesn't take a rocket scientist to understand these things, but it does take a little real-world economic sense. I can't tell if politicians are just ignorant of economics, or if they really don't care so long as their promises get them re-elected.