Quote Originally Posted by Rollo View Post
That explains the chunk of capital which was built up, but it certainly does not explain where the money which pays for the rewards of that capital comes from now.
That's a straw man argument.

I reject your fantasy and replace it with history.

During the biggest period of prolonged economic growth the world has yet seen from 1945-1975, the United States had top marginal rates of 70% and greater (including 92% for tax years 1952 and 1953)?

The United States GDP in 1945 was $202m in 1975 it was $1,689m; which is an average of 7.33% for 30 years. That's never been heard of in the history of the world before or since.
A false comparison. True that those rates were for the top incomes, but they did not apply to the vast majority of people who invested for the future through savings. mutual funds, and stocks,



Socialism! Argh, run for the hills!
Dern tootin. It'll be the death of ya.