After this age, entrepreneurship is more likely to take the form of self-employment or micro businesses without growth ambitions. In chapter 5, Daniel J. Mitchell, Brian Garst, Charles Lammam and Taylor Jackson consider the impact of capital gains tax upon entrepreneurship. Capital gains tax is effectively a tax on future consumption over current consumption. The United States and Canada, for example, have top capital gains tax rates above the OECD average and rank in the top third of countries with the highest top capital gains tax rates in the OECD. Jewish immigrants constituted a significant share of successful entrepreneurs in the United Kingdom between the 1930s and 1950s.

Source: Forbes May 20, 2018 16:41 UTC