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Perspective

Oct. 31, 2014

It's time to modernize state and federal tax codes

In the developed world, many peoples' wages have declined or remained stagnant this century in the face of low yet persistent real inflation. It's time to modernize federal and state tax codes. By John Claassen


By John Claassen


In the developed world, many peoples' wages have declined or remained stagnant this century in the face of low yet persistent real inflation. The pressure on real income comes from several sources, including outsourcing, technological advances, the legal and regulatory burden of hiring employees, and even taxation.


The pressure on wages was recently documented by, among others, the economist Thomas Piketty. Using large amounts of t...

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