Many countries do this: https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates My impression

Many countries do this: https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates My impression is that income tax is less damaging to investment than than corporate taxes and capital gains taxes, while also being less regressive than a sales tax or VAT.