4 ms·

India had tax rate of up to 93% in 1970s which was done all to support poor people. I am not sure it worked very well. But may be US is very different and 90% o

by geodel 9y ago

India had tax rate of up to 93% in 1970s which was done all to support poor people. I am not sure it worked very well. But may be US is very different and 90% or so tax rate will drastically improve living conditions for everyone.

jedmeyers 9y ago
> 90% or so tax rate will drastically improve living conditions for everyone. As a person who was born in the USSR those kind of proclamations always amuse me. I am wondering how much taxes are being paid by those people thinking that 90% tax rate will not create a feedback loop that will drastically worsen living conditions for everyone. My personal ancodote is that when I check it turns out those people rarely pay any taxes at all.
- geodel 9y ago
  Exactly right. At least from Indian experiment it did not happen. That's why I said 'may be' in sense that may be rules of human nature does not apply to USA.
- comicjk 9y ago
  I think the remark you're replying to was in jest or sarcastic.
mcguire 9y ago
During the 50s and 60s, the highest US tax bracket was over 90%. http://www.businessinsider.com/history-of-tax-rates http://www.businessinsider.com/history-of-tax-rates
meddlepal 9y ago
Why would anyone who would be taxed at 90% stay here?