Human nature isn’t it?
I chuckled when I realized I’d seen an academic study cited as gospel truth about supporting the world with only a third of current resources just after a post where everyone ignored the academic studies saying a proposed wealth tax would lower revenues etc.
Yes, inequality is increasing in the US.
But I don’t really get how that relates. Anyway, may point is that if you bracket the tax at high enough incomes, maybe not even a 99% marginal tax rate will suffice for making rich people move away. Those people are rich, they don’t care about spending some money to live where they want.
The same is not true about the poor, by the way. It’s easy to tax them so much that they leave.
And Laffer focusing his work on the rich was the cheapest and most plain sell-out on the academic history.
My point is that inflation will drive down consumer spending for most people, but the highest incomes barely notice anything has changed.
Oh, I see.
Good point. I didn’t notice the huge empirical test for it running right now.
Life is a Grand Experiment, no?