USA “dominated” the world economy in the 1950s because much of the industrial world’s infrastructure was still being rebuilt from smithereens due to World War II, it had nothing to do with tax rates. They didn’t actually say there was some sort of connection, but it’s an odd way to construct a sentence.
All the deductions and tax dodges are gone, they got that part right. So confiscatory tax rates would be an incredibly profound mistake on business and employment. The problem in this country is our “thought leaders” and “experts” and “economics nobel prize winners” have never held a job, ran a business, or have any idea how things work. Or, they are batting for the wrong team. Take yer pick.
The business of business is business. These morons just screw everything up.
High tax rates on the rich guarantee an increase in value—for the services of experienced tax accountants.
Most wealthy people will find a thousand ways to legally avoid any tax—if it is worth their time and effort to do so.
Governments should never forget—pigs get fat and hogs get slaughtered.