Originally posted by normbenign
Tax rates of 90% were always a joke. Nobody actually paid those rates. Who, in his right mind, would continue to work and earn if 98% were confiscated? If find it difficult to understand why people continue to fork over 50%, and the truth is that they don't even at that level they find shelters, and loopholes.
Presumably employers would be obliged to set salaries with the likely tax rates in mind. In addition, high tax rates could be a useful deterrent for anyone in a position to set his or her own salary, so employers would be more likely to plough funds back into the business, or donate them to philanthropic causes, etc.