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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I've also heard from financial advisors that it used to be much more common.
And I myself remember constant references to "tax shelters" in popular culture, even in sitcom plots.
Maybe that is true. Additionally, the decline of top rates also gives less incentive to avoid today. But still open how much this
matters as compared to the distributional change (in the link above). And then it is still a huge step to a link with growth overall.
one simple measure is that tax revenue as a % of GDP has not changed much even as tax rates have come down.
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