Re:On the Experience of Being Poor-Ish, for People Who Aren't
by leetcrew on Monday March 01, 2021 @03:11PM
(#26307739)
> and why we never had millionaires back when the top bracket was > 90%
some caveats apply to this offhand quip (very different tax laws and perhaps even widespread evasion meant almost no one was paying an effective tax of 90%, regardless of actual income). I suspect you know this.
I'm sure there's a lot of slack in the tax brackets. I doubt we are close to a laffer curve inflection point. all I'm saying is I'm not convinced by the style of argument that goes "we already have enough food for everyone; we just need to radically reorganize the economy and then no one will go hungry!". more analysis is needed.
some caveats apply to this offhand quip (very different tax laws and perhaps even widespread evasion meant almost no one was paying an effective tax of 90%, regardless of actual income). I suspect you know this.
I'm sure there's a lot of slack in the tax brackets. I doubt we are close to a laffer curve inflection point. all I'm saying is I'm not convinced by the style of argument that goes "we already have enough food for everyone; we just need to radically reorganize the economy and then no one will go hungry!". more analysis is needed.