I was bored so I decided to post a thread about something. I decided to make it about the economy and tax.
Basically, how high can tax go before it is harmful?
I know there are lots of different kinds of taxes, but for the sake of simplicity lets just assume that we are talking about income tax.
Personally, my believe is that the ideal and fair income tax is about 20-25%, but that it doesn't always have to be outright harmful (as in, really harmful) until it has gone beyond 50% or so percent. The government taking away 40% or so of your money isn't fair, but the tax doesn't become outright harmful for the economy unless the state starts to take more then half of your income since taking away to much decreases peoples willingness to work and also encourages people to avoid tax or simply move away.
Where do you put the limit yourself?
Also explain why you put the limit where you put it?