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"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 ov
by 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.