> Q: A much steeper income tax has gotten attention — some pitching even 70%. Is that possible? > Oyer: I can’t imagine a 70% tax rate. And I don’t think we’ll

> Q: A much steeper income tax has gotten attention — some pitching even 70%. Is that possible? > Oyer: I can’t imagine a 70% tax rate. And I don’t think we’ll see a universal basic income for a long time. These are hugely expensive ideas. Then Oyer is experiencing a failure of the imagination as well as historical recollection. Tax rates have been that high before. Today a marginal tax income over what, 100 million at 70%--even 50%-- and there's suddenly a lot more money to build a social safety net with.