When the annual rate of productivity in the United States was at its highest from 1951-1963, top marginal tax rates were also at their peak. Incomes of $400,000 or more were taxed at a marginal rate of 91%. At $100,000, the marginal rate was 75%. As years went on, the tax rate declined and so did the productivity rate. From 1995-2004, the United States productivity rate was much higher than that of the EU but GB, France, Belgium, Norway, Germany, Finland, Italy, and Ireland had higher taxation than the US and had greater productivity results between 1970-1990. They go on to explain that more taxation gives opportunity to growth in education, on health, on training, and on other key essential contributes to society, providing opportunity for the spread of human capital. Other ideas mentioned to increase productivity is to give employee based ownership of businesses instead of proprietor ownership. Employee ownership increases productivity and gives reasoning for employees to increase their potential because they have stake in revenue shares rather than trading hours for dollars.
The final piece of the conclusion mentions how lopsided the elites are to the rest of the common citizenry. Mentioned was that in 1982, company CEO’s made on average 42 times that of the average wage worker. In 2004 that figure jumped to 431 times that of what a common wage worker makes. In 2004, Microsoft founder Bill Gates’ net worth alone was more than twice the direct stock holdings of the entire bottom half of the US population. This goes to show that in the elites of America, there are two classes. There is the top two percent and everyone else. The conclusion is a strong interpretation of earned and unearned in the knowledge era of the economy.
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The very rich fvcking the country as usual
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Originally Posted by milwaukee mike
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