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"Interestingly, the Royal Swedish Academy of Sciences recently awarded the current Nobel Prize in economics to William S. Vickrey and James Mirrlees. In 1971 Mirrlees, an adviser to the British Labor Party, published an article in which he concluded that the top marginal tax rate should be no more than about 20%. The optimal tax structure, concluded this left-wing economist, is what we now call a flat tax. |
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