The British had a 105% supertax after ww2. So high income...

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    The British had a 105% supertax after ww2. So high income earners had no incentive to work so cut back or left. Who wants to work 7 days a week to have it given to who knows who. True the UK became a paradise. Oh wait. No it didn't.

    First, under the assumption that we are talking about personal income tax marginal rates, it must be said that he highest rate of income tax peaked in the Second World War at 99.25%. It was then slightly reduced and was around 90% through the 1950s and 60s. This according to information sourced from the Wikipedia.

    Second, according to estimates for the United States, again from the same source, only after the marginal tax rate reaches 70% total revenue starts decreasing.

    Third, for the rich their income comes primarily not from personal exertion, but from investments in the casino economy.


    https://hotcopper.com.au/data/attachments/2948/2948766-19e460f7bcb5772bb12af427dee2ad7c.jpg
    Laffer curve with a maximum revenue point at around a 70% tax rate, as estimated by Trabandt and Uhlig (2011)

 
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