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“They were devastating with over 50% pull backs in the S&P 500 with people losing over 50% in their retirement accounts,” he said. ... During the market sell-off in 2022, ...
The discount rates used in assessing private projects were found to be higher – with potential rates of between 10% and 25%. When deciding how to discount future climate change impacts, value judgements are necessary (Arrow et al., 1996b:130). IPCC (2001a:9) found that there was no consensus on the use of long-term discount rates in this area.
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The public generally supported the heavy new taxes, with minimal complaints. The Treasury rejected proposals for a stiff capital levy, which the Labour Party wanted to use to weaken the capitalists. Instead, there was an excess profits tax, of 50 percent of profits above the normal prewar level; the rate was raised to 80 percent in 1917.