Sunday, October 2, 2011

QT: NNT on Taxes

I think that he has a very good point here. Of course, some investors, say Warren Buffett & Charlie Munger, have exercised significant skills (including self-restraint), but a fair amount of success in this area is a matter of luck. Add Robert Frank's suggestion of a progressive tax on expenditure (if this is the right term), we'd probably all be better off.

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