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E.g. if it hurts the economy, like by slowing economic growth and lowering demand for labor. It would tend to transfer investment decisions from successful busi
by hirundo 8y ago
E.g. if it hurts the economy, like by slowing economic growth and lowering demand for labor. It would tend to transfer investment decisions from successful business people who like to grow their business to politicians who like to redistribute.
- roywiggins 8y agoThe linked article specifically argues that it would not hurt the economy. My question was how does it "kill motivation" to make money, really.
- hirundo 8y agoTo the extent that people are motivated to make money the prospect of making less of it reduces their motivation.
- deleted 8y ago[deleted]
- jquery 8y agoThe linked article does a poor job of convincing skeptics, it only looked at nominal rates, not effective rates, and additionally confused the issue by looking at the first derivative of the top marginal rate. Finally, it didn’t even fix the marginal rate to an exchange-rate fixed income ceiling across countries. Sloppy methodology with a conclusion in search of evidence.