A side effect of the very politically popular idea of taxing the rich more and more: the fate of your government programs becomes more and more structurally dependent on the volatile fortunes of an ultra-small group of ultra-rich people.https://twitter.com/ChrisMegerian/status/1043850488750452736 …
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@jerrybrowngov literally brings out several oversized large printed charts on this during every budget presentation he gives. He especially likes this one of California capital gains tax revenue since the 1990s.pic.twitter.com/HgvzxzVykL
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Fair enough - was responding from the perspective of national tax policy (which if there is research out there that debunks it, feel free to share). From a. California perspective I agree - much smaller base so the group is less dynamic
End of conversation
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