Raising Taxes: Does it work? Ask folks in the Euro Zone
Economist John Cochrane opines on if raising marginal income tax rates will do the trick here in the US. Most of the discussion surrounding the "Fiscal Cliff" is about raising marginal income tax rates. Will this be the solution? His advice: Run the experiment to see if it has worked. Oh, and Europe is running the experiment for us. Now, Mr. Cochrane has the results here in his article, "Experimental evidence on the effect of taxes"