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prottog | 2 years ago

I did not make that assumption, with the idea that in countries with free (or freer, at any rate) market-based economies with little to no capital controls, the rising tide lifts all boats, including those of the proletariat without capital, to a standard of living higher than countries with unfree economies and significant capital controls.

In fact, in two of the countries that presently have significant capital controls (China and Russia), even your human capital is controlled with internal passports that limit where in your own country you can move to.

Of course, I likewise don't dispute that I don't know what your preferences are. My original statement ("you likely wouldn't want to") was intended to be a general statement, not for you in particular as an individual.

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zozskuh|2 years ago

[deleted]

prottog|2 years ago

According to your first source, "cutting the top tax rate does not lead to economic growth" but it does not lead to economic stagnation or shrinkage either; "cutting the top tax rate does not lead to income growth" but does not lead to income decrease either; "cutting the top tax rate does not lead to wage growth" but does not lead to wage decrease either; "cutting the top tax rate does not lead to job creation" but does not lead to job destruction either. That is to say, cutting the top tax rate has no correlation with any of those four items.

So if taking more or less taxes from the rich results in no meaningful difference in ordinary American lives, shouldn't the government then default to taking less? The other way would be just wasteful. And if your argument is that no, in fact the additional tax revenue from the rich is helpful because it funds various redistributive social programs, then my counterargument is that what those programs seem to be most effective at is incentivizing creating an unemployable underclass at the taxpayer's expense[0] while enriching politically connected players.

[0]: See Thomas Sowell's extensive body of research on the general welfare of black Americans before and after the Great Society programs of the 60s.