[quote=patb][quote=GH]I’m not so sure. If taxes were raised to 100% no one would “bother” to go to work and tax revenue would be $0.00
If taxes were reduced to 0% everyone would be pretty happy in the private sector for a while and taxes would be reduced to $0.00
[/quote]
Wildly incorrect.
US Marginal tax rates in the 1950’s were 90%, lots of people worked hard to make millions.
In the Nordic countries, top tax rates were over 90%, people still worked hard.
Soviet Russia effectively had 100% taxes and still people worked to get Grad degrees, med degrees,
become engineers, scientists…..
[/quote]
Hmmm, In UK in the 60’s most of their best minds left for America where they were paid better and were taxed less. The impact was disasterous!!
The Soviet Union, correct me if I am wrong, but did they not go bankrupt?
The question is if you want to live in a free society and have a choice where your income is spent , or have it spent for you by someone who knows what is good for you.
I am not advocating 0% tax, since obviously we would quickly see anarchy. California raised sales tax and collects less income. Less products and cars are sold as a result, less income tax is collected and eventually more tax is collected on less sales resulting in a net loss.
