after-tax

the average rate of returnafter tax, after destruction,below the growth rate during a long time period.

300 million dollars of profits,200 million dollars after tax,94 million dollars of externalities, cost to business.

so this is the pre-tax rate of return.This is the after-tax rate of return,and after destruction,

the exact same wage.Typical after-tax Ginis in developed countries today are around 0.3,though there’s a wide range from pretty equal to pretty unequal.