Joe Gregorio
The last time we had a 70% top marginal tax rate in the U.S. it generated very little revenue. That doesn’t mean it failed, that means it was doing it’s job, as explained in The opportunity cost of firm payouts.
The last time we had a 70% top marginal tax rate in the U.S. it generated very little revenue. That doesn’t mean it failed, that means it was doing it’s job, as explained in The opportunity cost of firm payouts.