this post was submitted on 13 Mar 2024
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I think you are wrong but I'd like to see this tried, if not too catastrophic.
Well the highest marginal rate ever was about 90% in the 50s and there wasn't significant capital flight at that time
There wasn't significant movable capital either at that time.
in the 50s‽ Yeah sure whatever ya say.
Yes, you might have noticed that Microsoft, Google, Apple etc are the kind of companies which didn't exist back then.
Yeah, instead there was a bunch of fruit companies, IBM, and GM.
The most bloated corporate valuation in history was the South Sea Company, and that fiasco went down in the 1700s.