As middle-class incomes stagnate in advanced economies while
the rich experience record income gains, the 11th
semi-annual Munk Debate pits wealth redistribution
supporters Paul Krugman and George Papandreou against Newt
Gingrich and Arthur Laffer to debate taxation — should the
rich pay more? For some the answer is obvious: redistribute
the wealth of the top income earners who have enjoyed, for
almost a generation, the lion’s share of all income gains.
Imposing higher taxes on the wealthy is the best way for
countries such as Canada to reinvest in their social safety
nets, education, and infrastructure while protecting the
middle class. Others argue that anemic economic growth, not
income inequality, is the real problem facing advanced
countries. In a globalized economy, raising taxes on
society’s wealth creators leads to capital flight, falling
government revenues, and less money for the poor. These same
voices contend that lowering taxes on everyone stimulates
innovation and investment, fueling future prosperity. With
advanced countries facing overextended social services,
crumbling infrastructure, and sluggish economic growth, this
premiere debate series on economic inequality tackles the
essential public policy issue: Should we tax the rich more?
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