Quote:
Originally Posted by SebC
By your argument against it, namely that it's never been shown to work before, nothing new would ever happen.
But I'll give you a real world example anyways: USA, 1936-1980, with a highest marginal tax rate of at least 70% for the entire period - a country that put a man on the moon, invented a multitude of technologies, and was the flag-bearer of capitalism during the Cold War.
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It was at a high threshold, for limited types of income. Almost no one paid it, and if they did, it was just on a small portion of their income. It raised very little revenue, and rich people then were not paying a significantly higher effective tax than rich people now.