Senator Smith wants to increase taxes on people with high incomes and use the money to help the poor.Senator Jones argues that such a tax will discourage successful people from working and will therefore make society worse off.An economist would say that

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The economist would recognize that there are tradeoffs between equity (fairness in distribution of resources) and efficiency (maximizing production and consumption). It is possible that higher taxes on those with high incomes may discourage some from working or investing, and this may harm the economy. However, it is also possible that the revenue generated from such taxes can help the poor and lead to a more equal distribution of resources. Therefore, it is important to consider both viewpoints and find a balanced solution that maximizes both equity and efficiency.

Senator Smith Wants to Increase Taxes on People with High