Support for centralized decision-making (which implies lower taxes) will rise with wealth. It declines with the relative mean wealth level of a person’s region (to avoid redistribution to other regions). For the rich, it rises with the inequality level of their own region (to prevent the local median voter from demanding high taxes).
New York State law has enormous implications for sovereign debt sustainability and debt crises resolutions,
- 01/16/2025
- Policy Brief