High capital income tax rate not optimal for societal welfare.
The study looked at the best way to tax money as generations change. They found that having high taxes on money made from investments during the change is good only if the goal is to make things fair for everyone. But if the goal is to make the economy run well and protect people, it's better to have no taxes on investment money and less taxes on money earned from work. The first option is supported by older generations, while the second option is better for the economy.