THERE REALLY IS AT LEAST ONE FREE LUNCH

There are a few actions one can take that have no downside, only an upside.
Economists teach students, “There is no free lunch,” meaning an action that might be beneficial to some may well be harmful to others. An example would be an increase in the minimum wage, which is beneficial to those receiving it, but harmful to all of those who do not get jobs or are laid off because employers either cannot or are unwilling for competitive reasons to pay the mandated higher wage.
Yet there are “free lunches” that result from merely stopping something harmful — e.g., eating too much sugar. There are many harmful government policies, such as regulations that have more costs than benefits. Thus, merely eliminating them will cause a net gain.
There are a number of taxes with rates above both the maximum revenue-raising rate and the growth-maximizing rate, notably the tax on long-term capital gains. Which is why President Trump’s tax reform features it.












