4 ms·
> he most you can do is take from people at one end and give to people at the other end But he argues before that point that tax rates and tax receipts are ver
by shawn-furyan 11y ago
> he most you can do is take from people at one end and give to people at the other end
But he argues before that point that tax rates and tax receipts are very weakly correlated. This would seem to be a limiting factor governing how effectively a government can flatten inequality through wealth redistribution.
- cma 11y agoSeems more like a confusion over how much income to the top comes from wages vs. capital gains. Looking Graham's own income sources, he should have pointed this out. The capital gains rate under Eisenhower was only 25%, while the top bracket was 91%. And the corporate tax rate under Eisenhower was only 50%. Very few of the great sources of dynastic wealth in America were built by accumulating wages under normal income rates.