Sweden! Norway! US during WWII !US until the rich rewrote the tax code! Go argue with the MIT economist! So tax policy makers are not going to do the right thing now (70%) for fear that that they’ll be asked to the right thing in the future (fix loopholes) ? ?https://twitter.com/paulg/status/1090212383681888256 …
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My point is simply that the commonly made claim that the US growth rate was highest when marginal tax rates were highest is misleading, because there was a big gap between the statutory rate and what people actually paid.
So while it may be that high marginal rates and high growth are not incompatible, you can't safely conclude that from the case of the US in the mid 20th century. Plus there was a lot of other stuff going on in the US in the mid 20th century: http://paulgraham.com/re.html
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To that point, can we conclude that the status quo is also unhealthy for millions of people living below the poverty line?
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