farmer3_ANNE-CHRISTINE POUJOULAT_AFP_Getty Images

Taxing the Intangible Economy

With a slowdown in productivity growth hurting Western governments' ability to deliver goods and services, new forms of revenue generation are needed. One possible solution is to tax capital gains at the same rate as other income.

LONDON – Some very clever people, including the president of the European Central Bank, Mario Draghi, and Andy Haldane, chief economist at the Bank of England, are expressing concerns over the slowdown in productivity growth. And, given that productivity (measured as GDP per hour worked) is the ultimate driver of increases in living standards, they are right to be worried.

https://prosyn.org/bHBcNth