This essay examines the role of chance in determining lifetime earnings, and reviews research showing that at least half of what we earn is explained by the "birth accidents" of gender, genes and parents. The implication for tax policy is that a sharply progressive income tax--a "Fortune Tax"--passes the tests for both fairness and efficiency. (18,000 words, 18 charts).
About Daniel Badger Jr
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Published November 12, 2012
Political & Social Sciences.