Working Papers
The Anatomy of Capital Returns over the Very Long Run: Germany, 1465–2025
Economics Working Paper 26128
November 6, 2026
Published: July 24, 2019
In order to raise the necessary revenue for the government with minimal damage to the economy, we should lower marginal rates, broaden the base, and simplify the tax code. With a simple, clear system, we not only can raise revenue but also increase productivity and work.
Additional Resources
- Listen as John Cochrane weighs in on the economy. Available here.
- Watch “Why Tax Rates Matter More Than Taxes,” available here.
- Watch “Office Hours: John Cochrane On Economic Growth,” available here.
- Read John Cochrane’s blog post, “Economists and Taxes,” available here.
- Listen as John Cochrane discusses his blog post "Economists and Taxes," available here.
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