To the extent that the income of the highest percentiles arises from rent-seeking activities, the impact of rising top income marginal tax rates on economic growth may even be beneficial because it will discourage rent-grabbing behaviour and increase others’ revenues. From the point of view of development, fiscal measures that provide direct support to private fixed investment are essential. Rather, what is needed is a differentiation in taxation of profits based on the origin of the profits and how they are used. For example, profits from productive entrepreneurial activity may be taxed at a lower rate than profits from purely financial activity, especially speculation and “unearned” capital gains that provide no benefits for the overall economy.