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You mean rich people decided to stay in the US during wartime instead of chancing it somewhere else.
by whatok 10y ago
You mean rich people decided to stay in the US during wartime instead of chancing it somewhere else.
- extra88 10y agoLook again, the top bracket was 91% from 1946 until it was lowered to 77% in 1964, after WWII. I'm not declaring what the best top tax bracket should be, I'm countering the dismissal of much higher tax brackets as fantasy with facts that they have existed. Today, many countries in Europe have a top income tax bracket at or above 50% plus a VAT of 20-25%.
- charlesdm 10y agoYes, for people who earn their income through labour. Not for people who earn it through capital, i.e. hedge fund managers.