[ztjio]

Up until relatively recently we had a perfect solution to this problem: 90% marginal tax rates as an acceptable idea, amongst other things.

What the economy needs is for massive wealth accrual to be met with equally massive backpressure. Allowing for much higher taxes at the very high end of income/investment returns acts as a kind of non-Newtonian fluid in the flow of wealth, keeping it all from going away from those who haven't even had the opportunity to get some yet.

[simonh]

Except that raising taxes on those with high incomes doesn't actually increase tax revenue and in fact can lead to it decreasing due to their income being diverted to non-taxable forms and increased use of tax loopholes. That's not a theory, it's a lesson that's been learned in practice time and time again.

[conanbatt]

90% marginal is dumb. It will surely be avoided.

What a catholic idea, that people should commiserate and suffer for the better of others.

Thankfully human kind is resourceful and since time immemorial will always weasel out of situations they dont agree with.

To the very least it would reduce wages and increase stock granting, which making them more obscure it has other negative effects.