Should We Tax the Rich More?: The Munk Debate on Economic Inequality

As middle—class incomes stagnate in advanced economies while the rich experience record income gains, the eleventh 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 weal...