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 …
What is the journey is fun? But also again, philanthropy has consistently been 2% of GDP in America over many decades.https://www.philanthropy.com/article/The-Stubborn-2-Giving-Rate/154691 …
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Sure, but *sacrificing your family* for the sake of fun? This actually gets in my larger point, which is it the non-monetary rewards of entrepreneurial success are, by definition, insensitive to tax rates. Artists and musicians are very familiar with this.
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I actually think heavy reliance on philanthropy is bad, especially if it goes beyond the token amounts that we are see now and becomes a very significant part of the economy. Reason being, this gives the "givers" extraordinary and largely unaccountable power.
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