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That making taxes more progressive within certain limits has certain effects does not imply that these effects will progress linearly as tax progressiveness inc
by pcstl 8y ago
That making taxes more progressive within certain limits has certain effects does not imply that these effects will progress linearly as tax progressiveness increases. After all, if you had a 100% income tax for some segment of population, they would all just move their money abroad.
- drugme 8y agoSomewhere between 100% and the woefully inadequate levels we have now -- I'm sure there's a happy medium.
- r00fus 8y agoWe had a ~90% marginal rate in the 50s and 60s with a roaring economy. I think 70% marginal at a much higher income stepping level even going back to what historically worked.
- zepto 8y agoIn the 50’s and 60’s it was far harder to move one’s money abroad or operate as an ‘international citizen’ simply because we didn’t have the infrastructure. Not only that, the advantage of not having had world war 2 on the mainland meant that there were not a lot of attractive and functional alternative economies to move to, where now there are. The argument that it worked fine in the 50’s and 60s and so it would be fine now is based on the assumption that those decades were representative, when in fact they were a historical anomaly.