Reader comment on: Kristof, Taxes and Billionaires
Submitted by Jonathan N (United States), Jul 7, 2011 12:01
The incentive argument is a canard. Does anyone seriously think John Paulson is going to retire just because he has to pay a higher tax rate? While 85% of $4.5 billion is nice, 65% of $4.5 billion isn't chicken feed.
Besides, if an entrepreneur has a specific net income target, he's going to work harder if the tax rate is higher. 35% makes a lot more sense on the Laffer Curve than 15%.
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