The Buffett tax

Krugman, (I'd hate to say it, but) predictably, comes to its defense. It may sound ridiculous – and it flies in the face of my entire philosophy on the role of government – but I would prefer that governments institute a 'rich people must spend this portion of their income' law. We'll call it a 'bureaucracy-free stimulus package'. Yeah, that'll work. There's no doubt that the added value of Buffett's name gives some semblance of credibility to the proposed tax. Without one of the world's richest men, it would seem a purely-political proposal. Flat tax, though, as I've said previously, is the simplest and most sensible code of taxation.