In the field of tax, hard truths are playing out in this year’s election. The first is that special concessions that privilege older, wealthier voters have created a constituency very opposed to change.
The second is that the longer these settings are left in place, the harder it is becoming to change them.
Political science tells us that constituencies emerge around policy settings. The mushrooming of age-based constituencies is making tax reform difficult, with implications for intergenerational equity.
The more pressing that reining in generous and ever more expensive concessions grows, the easier it is becoming for political parties to use scare tactics about taking them away in order to muster support.
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