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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Replying to @paulg
When marginal tax rates were higher, the US put men on the moon, designed atomic bombs, commercial jets, ARPANet, the credit card, the transistor, communications satellites, LEDs, Hypertext, CDs. Technical innovation was financed more by the state/military vs private investors.
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Replying to @kimmaicutler @paulg
This is a strong point. Think that this is a good argument for not having very high marginal rate since a significant potion of innovation now comes from private investors?
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a rival superpower openly committed to ones annihilation tends to motivate a people — how does that apply here?
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who says that is not still the case? https://en.wikipedia.org/wiki/Foundations_of_Geopolitics … https://www.theatlantic.com/ideas/archive/2018/07/the-great-russian-disinformation-campaign/564032/ …
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But aren't their interventions having a meaningful effect on our ability to compete with China?
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