2 ms·
When we had a 94% top marginal tax rate in 1944-45, or >=91% for 12 years starting in 1951, was there a big "brain drain" emigration problem, and jobs going ove
by khafra 18y ago
When we had a 94% top marginal tax rate in 1944-45, or >=91% for 12 years starting in 1951, was there a big "brain drain" emigration problem, and jobs going overseas? Perhaps international outsourcing has grown not only because of the internet, but in part because Reagan cut the top bracket from 70% to 28%.
Cuba makes European countries look like the Mises institute, just as Norway or France would deem Obama's policies to be tilted right wing/laissez-faire. But Cuba has one doctor--the gold standard of skilled labor--for every 175 citizens, compared to the US's one for every 300.
- lionhearted 18y ago"When we had a 94% top marginal tax rate in 1944-45, or >=91% for 12 years starting in 1951, was there a big "brain drain" emigration problem, and jobs going overseas?" --> Mobility is much, much, much increased since 1951. I did a quick google to look for how much it cost to make long distance phone calls in '51 and this came up: "The first customer-connected long-distance telephone call was made on November 11, 1951... was the first call dialed with an area code, using what would now be called 10-digit dialing, and was connected automatically within 18 seconds." Getting up and going wasn't as viable back then for most people. Likely almost all of the people in the top tax bracket have friends, connections, and associates in at least a couple countries these days.