>I think one could reasonably attribute the growth for the first decade or two after tax rates began increasing to the momentum built up during the previously laissez faire era.

It's a bit much to expect growth to peak during the era 20-40 years after laissez faire ended, and think that it was because of the previous laissez faire policies.

>Supply chains, investor sentiment, etc all take time to change so a tax hike might not make its effect on GDP immediately evident.

These things did not use to be so sophisticated a century ago.

Without a doubt at least, high taxes and health and wealth clearly coexist in many countries. In fact, outside of some tiny countries and also some countries with oil wealth, it's the only form in which wealthy countries exist in this world.

And at the state level in America, this pattern is even clearer. https://en.wikipedia.org/wiki/List_of_U.S._states_by_income

Except for Alaska (small population, vast natural resources), every state in the top 12 by income is liberal-leaning in its voting patterns.

Likewise, except for New Mexico, every state in the bottom 16 by income is conservative-leaning in its voting patterns.