Originally Posted by Taichiliberal
Spare us all this BS about "taxing the snot out of the rich". Obviously, you're ignorant of American history.
http://www.beggarscanbechoosers.com/...s-with-91.html
So? How and what did the rich do in response? The pattern is always the same. The rich shift earnings into something that isn't "income." They move to "capital gains" or other gains in wealth that are not defined as income. Or, they move wealth to shield it from taxes like living in a home a company of theirs technically owns and they drive a company owned vehicle, that sort of thing. They can also, today, easily move wealth offshore so it doesn't count towards their taxes.
It is nothing but either a disingenuous canard or willfully ignorant position to think that you can raise taxes to those levels and those taxed will do nothing in response to avoid paying them.
https://www.reuters.com/article/us-france-supertax-idUSKBN0K11CC20141223
https://www.dailymail.co.uk/news/ar...x-forces-12-000-millionaires-YEAR-France.html
https://www.topaccountingdegrees.org/taxes/#:~:text= How The Super Rich,options you can... More
The same was true in 1950 as it is today. If anything, it's even easier today to avoid taxes when you want to.