this post was submitted on 10 Oct 2023
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You do realize that marginal tax rates were about 90% in America before, right? The single biggest reason they aren't anymore is much like how Walmart keeps their prices low - part of a race to the bottom. You're right, they will go elsewhere. They didn't before because there were no good or practical options. And as long as countries do what Ireland did not too long ago, it will continue to be a problem.
Yes I am aware that the top bracket was at one point 90%. Immalso aware that by changing that with the 1983 tax reforms we dropped tax rates while getting MORE tax revenue. That means that 90% is probably too high.
Regardless even with those brackets we don't have enough money to cover UBI in any meaningful way. We cannot tax the population enough to cone up with the trillions needed. Anyone suggesting we do have that money is likely uneducated in economics and has no idea how things work.