Comment by ifwinterco
Comment by ifwinterco 5 days ago
Yep people will pay rates in "high tax" US states where you're still only paying ~40% ish total income tax and they're really nice places to live.
That would still be considered a fair and reasonable level of tax by european standards.
Obviously there is a level though - if you made it 95% then people would leave. I don't think there's any reasonable argument that the level doesn't exist, the question is where is it for a specific place at a specific time
95% on what? Income over a million dollars. Income over 10 million dollars? If you like living in a super liberal state and super liberal city like Boston, you're not going to move to Texas just because you're getting taxed higher. Rich people are still absurdly rich, I feel like that gets lost in these discussions. These taxes don't materially effect them in anyway but have massive benefits for society.