But it was, not not too long ago. 35 years ago it was 50%. 40 years ago it was 70%. Just saying it ignores the core of economic and tax policy in the US ignores, well... the the recent history of the economic and tax policy of the US. Rather than a rank dismissal of the idea, why not explain what's so different than now from then that makes it impossible?
> you can't just throw out a link to graph about tax rates 50+ years ago and think that settles it and the US can be just like Norway.
I didn't. I just meant to show that your reason for dismissing it seems poorly founded, or at least poorly explained.
70 decades ago, if I were a billionaire, I'd have no choice but to stay in the US and pay that tax rate. Europe is rebuilding from a war, Asia is an agrarian back-water and South America is about to start experimenting with Communism. Yeah, where am I going to run to, Mars?
Now it's different. I'll be laughing with my other billionaire buddies about your tax rate plans while snorting coke of a hooker's tits on my private yacht and watching the Monaco F1 GP from the harbor. I've got all the luxuries I need over there, and in fact, everywhere, that I previously could only enjoy in the US. I can talk with who I need to talk to over Skype, I can do my business, banking, everything, remotely.
It's not like other countries don't have equal or better infrastructure. It's not like I can get clean water and food only in the US that would somehow make this a magical place I'd never leave.
So why would I just sit quietly and let you tax me at 90%, exactly?
Except, jokes on you, you may still owe the US taxes even if you don't live there but you get income from there, and they expect you to fill out your worldwide income and file taxes if you're a US citizen.
> So why would I just sit quietly and let you tax me at 90%, exactly?
Extradition treaties and/or freezing of your bank accounts, businesses and resources within the US.
But it was, not not too long ago. 35 years ago it was 50%. 40 years ago it was 70%. Just saying it ignores the core of economic and tax policy in the US ignores, well... the the recent history of the economic and tax policy of the US. Rather than a rank dismissal of the idea, why not explain what's so different than now from then that makes it impossible?
> you can't just throw out a link to graph about tax rates 50+ years ago and think that settles it and the US can be just like Norway.
I didn't. I just meant to show that your reason for dismissing it seems poorly founded, or at least poorly explained.