Post #4409863

@charette@mstdn.ca Yep - tax is the answer. Thomas Piketty has analysed what actually happened when most western economies had very high marginal tax rates (eg. 90%). He calls it 'predistributuon' - obviously, people stopped asking for astronomical salaries, or dividends. What's the point ? Instead, companies reinvested profit - and this is one of the reasons economic growth, wage growth, training programmes, etc were all higher in the period between the war and the 1980s, when marginal tax was highest - and, far from the 'trickle down' expectations of the neoliberals, all these declined once tax was cut.