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0 pointsgeodel8y ago0 comments

India had tax rate of up to 93% in 1970s which was done all to support poor people. I am not sure it worked very well. But may be US is very different and 90% or so tax rate will drastically improve living conditions for everyone.

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jedmeyers8y ago

> 90% or so tax rate will drastically improve living conditions for everyone.

As a person who was born in the USSR those kind of proclamations always amuse me. I am wondering how much taxes are being paid by those people thinking that 90% tax rate will not create a feedback loop that will drastically worsen living conditions for everyone. My personal ancodote is that when I check it turns out those people rarely pay any taxes at all.

geodelOP8y ago

Exactly right. At least from Indian experiment it did not happen. That's why I said 'may be' in sense that may be rules of human nature does not apply to USA.

comicjk8y ago

I think the remark you're replying to was in jest or sarcastic.

mcguire8y ago

During the 50s and 60s, the highest US tax bracket was over 90%.

http://www.businessinsider.com/history-of-tax-rates

meddlepal8y ago

Why would anyone who would be taxed at 90% stay here?

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