IMF: higher taxes for rich will cut inequality without hitting growth
by Larry Elliott and Heather Stewart from Economics | The Guardian on (#34QPT)
Analysis supports tax strategy of Jeremy Corbyn's Labour in UK - and undermines that of Donald Trump in US
Higher income tax rates for the rich would help reduce inequality without having an adverse impact on growth, the International Monetary Fund has said.
The Washington-based IMF used its influential half-yearly fiscal monitor to demolish the argument that economic growth would suffer if governments in advanced Western countries forced the top 1% of earners to pay more tax.
Related: IMF tax stance is music to Labour economists' ears | Larry Elliott
Related: Global economic recovery may not last, warns IMF
Continue reading...