July 2018 NBER working paper finds "a 10 percent increase in VC funding will induce a 3.6 percent boost in patenting one year after funding, and this number goes up to 6.7 percent when the number of patents is adjusted for quality" http://www.nber.org/papers/w24808.pdf …
What is 0.2 percentage points of growth in dollars and what is the addl revenue raised by going to the Norwegian level?
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back-of-the-envelope calculation: if we use the paper's estimate of the elasticity of taxation of VC activity of -1.0 (way higher than most computed labor elascities) and we use the 2017 number of $67.3 billion in exits (https://pitchbook.com/news/reports/2017-annual-vc-liquidity-report …),
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then hiking the tax from 15 to 50 will reduce VC activity from $67 billion to $20 billion while keeping the tax revenue raised at $10 billion, basically the same as it was before
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