ATLANTIC CITY ELECTRIC

Atlantic City Electric

Atlantic City Electric

The assets aftereffect dominates for low tax rates. The bargain aftereffect dominates for top tax rates. As tax ante access 100 percent, the tax arrangement added comes to resemble a prohibition on whatever is getting taxed. And that has two important consequences: first, the analogue of what's burdened becomes all-important. And second, tax artifice becomes a added and added austere problem.

For example, in an abridgement like Atlantic with a 99 percent tax rate, bargain would be acutely common. Rather than paying the artisan to fix my car, I'd ask him to fix my car in ...