Quote:
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Higher taxes will tend to depress entrepreneurship, as they reduce the payout from a successful company exit. One effect of huge deficits is the rational expectation of higher future taxes. So, one effect of stimulus is likely to be fewer start-ups.
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are you serious?
how in the world can anyone say with a straight face, not laughing, that people will choose to NOT seek a greater income/wealth due to having to pay a higher marginal tax rate if they do?
an attempt to have anyone believe that an individual will forego increased wealth simply because they have to pay out an additional 3% of that wealth- in other words, they keep .61 of every $1 in additional income, as opposed to .64 of every $1 as it is today- borders on the absurd.
no, take that back, it doesn't border on the absurd it IS absurd.