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0 pointshollerith6mo ago0 comments

Maybe the reason it is the financial capital of the entire world is that historically the tax regime let people keep most of the money they earned.

0 comments

TimorousBestie6mo ago

Income tax rates and corporate tax rates were higher during the post-war era than they are now.

bpt36mo ago

Effective tax rates weren't much different, which is what matters.

TimorousBestie6mo ago

The effective income tax rate was still on the whole higher for the wealthy in the 20th century. Depending on where you put the percentile cutoff, I’m seeing peak-to-troughs between 5-20%.

1 more reply

p_j_w6mo ago

Have you any evidence for this proposition?

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0 pointshollerith6mo ago0 comments

Maybe the reason it is the financial capital of the entire world is that historically the tax regime let people keep most of the money they earned.

0 comments

TimorousBestie6mo ago

Income tax rates and corporate tax rates were higher during the post-war era than they are now.

bpt36mo ago

Effective tax rates weren't much different, which is what matters.

TimorousBestie6mo ago

The effective income tax rate was still on the whole higher for the wealthy in the 20th century. Depending on where you put the percentile cutoff, I’m seeing peak-to-troughs between 5-20%.

1 more reply

p_j_w6mo ago

Have you any evidence for this proposition?

j / k navigate · click thread line to collapse