If the rich get taxed more, effectively being taxed out of being rich, what incentive is there to become rich? Would it not be better in that case to do what you like and let the government pay you for doing absolutely sweet FA?
I think you think I want to destroy the upper class. I don't. I just think that FU money should be taxed more heavily than regular money. When Warren Buffett's janitor pays a higher effective tax rate than he does, something is wrong. But that doesn't mean it's right to pauperize Warren Buffett.
I am in pretty good company with this argument I think. We should have a more progressive tax system. There is a lot of room to make it more progressive without damaging incentives to become rich.
There are so many incentives to become rich that it's laughable to say that you could destroy them all through a carefully calculated welfare program.
