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> At what point do I simply say "fuck it" and stop working too, because some ridiculous percentage of my income has to be applied towards feeding those who won't/can't/don't do anything productive?

Econ 101 opinion here, so I'm ignoring totally reasonable things like "people work for reasons other than monetary compensation" and assuming you're a rational participant in the economy, but I'd say there is no percentage at which you'd do that.

No matter how high a percentage is taken, you can always increase the topline number to make the bottom line number come out ahead of not working. I'd take a 99% tax on $1 billion/year over $14k/year in social insurance taxed at 0% if it were offered.

Anyway, isn't this similar to what the comp of people implementing something you might call automation is already doing in US tech hubs? We've had relatively low inflation in the US over the past decade (by CPI, anyway) but I can find you an article by Joel Spolsky from the aughts lamenting the fact that some tech companies were paying top new grads nearly $100k a year.

This is incorrect as the time-value of money is different for different people. If the choice is between a high pressure job with ~$100k after tax earnings or a mid pressure job with ~$70k after tax earnings, where the high pressure one is at a 90% bracket vs. the 50% bracket of the lower one, rational people may decide on the lower impact job.

> but I'd say there is no percentage at which you'd do that.

Huh? If I were getting, I don't know, 200k a year, for free, I'd probably quit.

Of course there is a level where that vast majority of people would simply not work anymore.

Rich people do this literally all the time. It's called "retirement".

There is a big factor that you are missing when it come to huge taxes. And that is the fact that people, especially the wealthy, are mobile.

Tax the wealthiest 0.01% at 99% and watch how fast they leave the country for low tax regions.

It already happens with people like the Facebook cofounder that renounced US citizenship.

I hear this a lot. I will believe it when I see it. Silicon Valley is crazy expensive. Why do people go there? Why don't the wealthy of Silicon Valley live someplace cheaper?

Because that is where the action and the talent is. It's not just about money and cost of living.

Also the 0.01 are so absurdly wealthy many are pledging to give away their money. They are not going to move away from their homeland because they are taxed more.

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