From the site:
To belabor what should be obvious: either the wealthy care about having more money or they don’t. If lower marginal tax rates are an incentive to produce more, the prospect of personal gain is an incentive to engage in corrupt practices. You can’t go all Ayn Rand/Gordon Gekko on the importance of greed as a motivator while claiming that wealth insulates a man from temptation.
Now, for what it’s worth, the reality is clearly that even the insanely wealthy generally want more. You can ask why they want it; the hedonistic pleasures of luxury must surely top out at a tiny fraction of what the average Trump nominee is worth. Gold-plated toilets don’t flush any better than the usual kind. But for such people, money is about ego, power, winning the game. Greed has no limit.
But what’s more interesting and revealing, I think, is the way people like Kudlow for whom incentives are supposedly all suddenly say something completely different when it comes to conflicts of interest.
And this is telling us something significant: namely, that supply-side economic theory is and always was a sham. It was never about the incentives; it was just another excuse to make the rich richer.
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