Interesting if you overlay with the highest personal income tax brackethttps://fred.stlouisfed.org/series/IITTRHB
We can have high growth with high taxes like they did in the mid 20th century, if we're as good at tax avoidance as they were then.pic.twitter.com/KkAqbOmrU8
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This is missing what changed. Among other things this: https://ourworldindata.org/taxation/#recent-trends-in-the-incidence-of-taxation … US taxation used to be much more progressive.pic.twitter.com/zQbYtHFcYe
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Tax *rates* increased more steeply. That doesn't mean what was actually paid did.
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That doesn't prove that there can't be high growth without tax avoidance...
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No, but it is a necessary qualification whenever anyone uses that chestnut about high taxes during the mid 20 C.
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what happened in 1940 to increase growth so fast? Maybe we should replicate that?
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The distribution matters. Can be much higher at the top, a bit lower at the bottom, and deliver same receipts. It's not tax evasion.
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a link to the data might seal the case nicely.
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or if we don't use the advanced detection tools they didn't have then
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Interesting. But only talking about evasion by putting money into tax havens. In all of this we miss total picture.
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