"For the U.S. economy, the current top income marginal tax rate on earnings is about 42.5 percent, combining the top federal marginal income tax bracket of 35 percent with the Medicare tax and average state taxes on income and sales."
Not once does he make a convincing argument that the above-described paradigm is not the apex of Laffer. His later paralogisms about elasticity are plowed with doubt precisely because he knows capital flight is a given past 50.
The Pareto coefficient chart from 2005 is as much bunk as the global swarming hockey stick graph from 7 years earlier. I find it deeply ironic that morons like Diamond & Mann embrace 'science' but then want everyone to put their 'faith' in absurd, spurious projections.
Flight will proceed in an ellipitical hybrid of lower tax rates traded off against preferred SoL/climate/lifestyle. Singapore, Oz and Korea are the most likely winners, noting Facebook's financial founder Saverin to the former.
Any further questions, look at France. Not an economic or political regime I'd care to emulate...
You mean the Singapore, Australia, and South Korea that manage to have a more universal healthcare system than the US does and still remain a haven for rich people fleeing the United States?