A Taxonomy of Tax Rates

A TAXONOMY OF TAX RATES….Jim Henley asks about rates of taxation. Here’s my quick and not-very-well-thought-out guesstimate:

  • Above 40%: Unwise.

  • Above 50%: Counterproductive.

  • Above 60%: Unjust.

Note that I’m talking about actual maximum tax burdens on high earners here, not theoretical rates and not marginal rates. I doubt there are many millionaires in the entire country who pay an actual tax rate very much higher than 30%.

Discuss.