We Must Raise Taxes on the Rich [Citations Needed]: A Critical Review of Tax the Rich! and the Patriotic Millionaires

Michael Conklin, We Must Raise Taxes on the Rich [Citations Needed]: A Critical Review of Tax the Rich! and the Patriotic Millionaires, 41 A.B.A. TAX TIMES 1 (May 26, 2022).

9 Pages Posted: 23 Mar 2022 Last revised: 23 Oct 2022

See all articles by Michael Conklin

Michael Conklin

Angelo State University - Business Law; Texas A&M University School of Law

Date Written: January 1, 2022

Abstract

At the 2021 Met Gala, Alexandria Ocasio-Cortez sparked controversy by wearing a “Tax the Rich” dress. Afterward, AOC championed the race of the dress designer and accused her critics of being sexist, while her critics pointed to the irony of such a message at a $30,000-a-ticket event designed to support the interests of the ultra-rich. But these points are largely irrelevant when considering if taxes on the rich should be increased. This is unfortunately also the level of discourse present in the book Tax the Rich! How Lies, Loopholes, and Lobbyists Make the Rich Even Richer. Anyone reading this book in an effort to better understand the arguments for and against raising taxes on the rich will be disappointed, as it largely provides neither. This review critiques the book for selectively omitted information, ignoring incentivization effects, and the appeal to emotion by villainizing the rich. These critiques provide a better understanding of the legitimate arguments for and against raising taxes on the rich and point to potential hypocrisy in groups such as the Patriotic Millionaires.

Keywords: Tax policy, Flat tax, Fair tax, Capital gains tax, Wealth tax, Loopholes

Suggested Citation

Conklin, Michael, We Must Raise Taxes on the Rich [Citations Needed]: A Critical Review of Tax the Rich! and the Patriotic Millionaires (January 1, 2022). Michael Conklin, We Must Raise Taxes on the Rich [Citations Needed]: A Critical Review of Tax the Rich! and the Patriotic Millionaires, 41 A.B.A. TAX TIMES 1 (May 26, 2022)., Available at SSRN: https://ssrn.com/abstract=4018682

Michael Conklin (Contact Author)

Angelo State University - Business Law ( email )

United States

Texas A&M University School of Law ( email )

Tarrant County
United States

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