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A comment on You Can't Soak the Rich. Parent comment
The point is that higher taxes lower TOTAL GDP. So that even if taxes are raised, taxes collected as a percentage of GDP remain the same.
So the only way to increase the actual amount of collected taxes is to increase GDP as top marginal tax rates don't matter.
Hence, if higher marginal taxes on the rich really do hurt the economy, they will effectively lower tax collection not increase it.
Now, do higher marginal tax rates hurt the economy?
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The point is that higher taxes lower TOTAL GDP. So that even if taxes are raised, taxes collected as a percentage of GDP remain the same.
So the only way to increase the actual amount of collected taxes is to increase GDP as top marginal tax rates don't matter.
Hence, if higher marginal taxes on the rich really do hurt the economy, they will effectively lower tax collection not increase it.
Now, do higher marginal tax rates hurt the economy?