Well, to be fair, he's not talking about all people. Just very, very high income folks.Xan wrote: ↑Tue Jan 08, 2019 9:24 pmI think the bigger issue than quibbling about specific tax rates rates is the philosophy that people's incomes are just there for government to help themselves to the "optimal" amount. "All we should care about is how much revenue we raise." hmm.Kriegsspiel wrote: ↑Mon Jan 07, 2019 6:56 pmPretty much what the founders intended.tax policy toward the rich should have nothing to do with the interests of the rich, per se, but should only be concerned with how incentive effects change the behavior of the rich, and how this affects the rest of the population.
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Or to put it a bit more succinctly, when taxing the rich, all we should care about is how much revenue we raise. The optimal tax rate on people with very high incomes is the rate that raises the maximum possible revenue.
https://www.nytimes.com/2019/01/05/opin ... dance.html
That said, I think you raise an excellent moral point. However, it has to compete with all other considerations, such as this supposed "debt crisis" we may or may not be in, and the fact that our military (a massive driver of our deficit (past and present)) is mostly used to defend the economic interests of the capital class. I'd prefer something more akin to a wealth-based tax than an income-based one, but there's a pretty considerable amount of overlap between very high wealth and very high income.