Message from @wahx
Discord ID: 534551283970080778
so lets take it to the absolute extreme
So if we free the economy up@more we do better
Well sure
The free market allocated resources the best
10/10 logic
Allocated *
Allocates
10/10 logic if anything works we need to take it to the extreme
I mean the gilded age was a good example
Working hours went down while real wages increased
The period of huge economic expansion
But there was still not a free market
ok so lets take it even further
even though it has never been tried ever
I mean I’m not for it anyways
Just a thought
I’m just against the FED, Keynesian economics
they cause boom and bust cycles
Austrians have it right
@sɪᴅɪsɴᴏᴛʜᴇʀᴇ I know we disagree on a lot of stuff but you'd really like this study http://borisnikolaev.com/wp-content/uploads/2014/08/Economic-Freedom-and-Quality-of-Life.pdf basically goes into much greater depth about the data behind the graph you posted earlier, with the same result
Damn that’s huge
I agree with it tho
@Neco2040 Ocasio Cortez raising taxes to 70% would cause a crash
Not to mention it’s never been as high as she says
(90%)
wtf I love Ocasio Cortez now
The highest tax rate ever in the United States has been 45%
for personal income tax , top marginal rate
This was the effective tax rate when it was 91% marginal.
For people earning over $3,400,000 inflation adjusted
Yes she wants to do that also, her 70% tax would be a marginal tax for people earning over 10 million a year
Why would you compare a 45% “effective” rate to a 70% marginal rate
It makes more sense to compare the 70% marginal rate to the highest of 94% marginal
@Leo (BillNyeLand) that’s not the point
70% is the top@marginal rate
It makes no difference if that percent isn’t the actual rate being taxed
For example there was a 90% tax rate in 1955 however the effective tax rate was 45%
@chad 10 million?
Where does it say that