What if your model takes into account the fact that if income taxes are high enough, startups stop happening? These economists tried it, and found the optimal tax rate is 29%. https://www8.gsb.columbia.edu/faculty-research/sites/faculty-research/files/finance/Macro%20Workshop/toptax.pdf …
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Yes, got it! Let’s say I grew up in very high effective (and marginal) tax rate economy where innovation continues to be suffocated. I don’t recommend it.
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What if I grew up in a country that used to have high marginal tax rates and with that, it funded virtually free higher education, state-of-the-art infrastructure and also had significant advances in tech that raised quality of life/lifespan substantially?https://press.princeton.edu/titles/10544.html …
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Stop taxing income higher. Start taxing the rich who inherit, who never pay taxes (on unsold cap gains) and who dodge taxes using legal loopholes. Taxing the highest income earners is like taxing the VPs at Trump International.
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