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I think it’s important to recognize that a 70%+ tax bracket would eliminate outliers. With a 70% bracket, we wouldn’t have SpaceX or Tesla - not because it would have disincentivized Elon Musk, but because he needed every cent of his PayPal exit to keep both companies alive.
(the fact that this is a cherry-picked example is exactly the point: outliers matter)
Maybe she won't figure out how capital gains work
Yes they do. The question isn’t whether they do or don’t however, it is whether those who currently struggle to survive in the richest nation on earth would be better off.
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