How the Anti-Tax Movement Hijacked America (with Michael Graetz)

08/13/24 • 52 min

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This week, Nick and Goldy are joined by Michael Graetz to discuss his new book, "The Power to Destroy: How the Anti-Tax Movement Hijacked America.” Graetz asserts that while the anti-tax movement is often overlooked, it has shaped policy by intertwining with issues of race and economic ideology, diverging from Keynesian economics in favor of neoliberal supply-side economics that results in extreme wealth accumulation at the top. He argues for major tax reforms, including a carbon tax and the implementation of a value-added tax, as potential solutions to creating a more equitable and sustainable tax code that would benefit the middle class. Their conversation also revisits the historical origins of the anti-tax movement in the United States and highlights how tax policy is not just shaped by economic theory— it’s also shaped by cultural and social differences.

Michael Graetz is a professor emeritus at Columbia Law School and Yale Law School and a leading authority on tax politics and policy. He served in the U.S. Treasury’s Office of Tax Policy and is the author and co-author of many books, including Death by a Thousand Cuts: The Fight over Taxing Inherited Wealth and The Burger Court and the Rise of the Judicial Right.

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2024 Summer Reading List

It’s Paul and Goldy’s summer reading list! In this week’s special episode, Civic Ventures Senior Fellow David “Goldy” Goldstein and Civic Ventures Writer Paul Constant recommend some of the hottest new economic and political books for your beach reading pleasure.

We want to know what you’re reading, too. Leave us a comment on Instagram, Twitter, Threads or YouTube!

Remember to shop local and small when you can, or order from IndieBound or Bookshop.org—both of which support independent bookstores! All of these books are also likely available through your local library.

Every book mentioned in this episode:

In This Economy?: How Money & Markets Really Work - Kyla Scanlon

End Times: Elites, Counter-Elites, and the Path of Political Disintegration - Peter Turchin

The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism - Sebastian Edwards

Our Malady: Lessons in Liberty from a Hospital Diary - Timothy Snyder

Growth: A History and a Reckoning - Daniel Susskind

Empty Planet: The Shock of Global Population Decline - Darrell Bricker & John Ibbitson

A Fabulous Failure: The Clinton Presidency and the Transformation of American Capitalism - Nelson Lichtenstein & Judith Stein

The Power Broker: Robert Moses and the Fall of New York - Robert A. Caro

The Road to Freedom: Economics and the Good Society - Joseph E. Stiglitz

Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy - Teresa Ghilarducci

New Nigeria County - Clare Brown

Unruly: The Ridiculous History of England's Kings and Queens - David Mitchell

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Twitter: @PitchforkEcon, @NickHanauer, @civicaction

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YouTube: @pitchforkeconomics

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The Crisis of Democratic Capitalism (with Martin Wolf)

Martin Wolf, chief economics commentator at the Financial Times, joins Nick and Goldy to discuss his new book, "The Crisis of Democratic Capitalism." They explore the important-yet-fragile connection between capitalism and democracy, particularly in the context of rising inequality and political instability. Wolf articulates how the perceived success of democratic capitalism has begun to falter under the onslaught of economic policies favoring the wealthy and eroding the middle class. Ultimately, Wolf advocates for stronger social safety nets to ensure that democratic systems, as well as working and middle-class families, can thrive in an era dominated by economic upheaval.

Martin Wolf is the chief economics commentator at the Financial Times, known for his incisive analyses and authoritative perspectives on global economics and policy. With a distinguished career spanning several decades, Wolf has shaped public discourse on economic matters through his insightful columns and books. His latest book, "The Crisis of Democratic Capitalism," details how and why the marriage between democracy and capitalism is coming undone and what can be done to reverse this terrifying dynamic.