Inspired by Mitt Romney’s low tax rate, Matt Yglesias defends the principle of taxing investment income more indulgently than labor income. To make the argument, Yglesias spins a morality tale about two well-paid doctors, one a profligates who eats fancily and travels the globe, the other a prudent sort who builds buildings and hires people to work in them. It’s only fair, concludes our Slate pseudo-contrarian, that the prudent doc deserves a break from the tax code, since he’s doing so many other people favors. Leaving aside the fact that the profligate supports an army… Read More