Tax the rich, tax the rich … yada yada yada (Updated)

Matt Yglesias, whose popularity on the left appears to be inversely proportional to his understanding of the real world, repeats the age old lefty solution to deficits:

[We] used to have a debate in which the left said redistributive taxation might be a good idea and then the right replied that it might sound good, but actually the consequences would be bad. Lower taxes on the rich would lead to more growth and faster increase in incomes.
Now that idea seems to be so unsupportable that the talking point is switched. It’s not that higher taxes on our Galtian Overlords would backfire and make us worse off. It’s just that it would be immoral of us to ask them to pay more taxes even if doing so would, in fact, improve overall human welfare.

Swing and a miss, genius. Try again.
Tax Cuts 101

4:15 PM Update: Big Fur Hat shoots and scores.

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