Celebrating humanity's flourishing through the spread of capitalism and the rule of law
24 Apr 2015 Leave a comment
in business cycles, fiscal policy, great depression, macroeconomics, politics - New Zealand, politics - USA, public economics Tags: capital taxation, New Zealand, taxation and the labour supply, top tax rate
Source: Ellen McGrattan.
There were large differences in increases in the 1930s in the top marginal income tax rate between Sweden, the UK, France with Australia and New Zealand and between the USA and Canada and the rest as McGrattan explains:
These data show that there is a strong negative correlation, roughly −94%, between the change in the top income tax rates and the deviation in per capita real GDP relative to trend in 1933.
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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