Growing wealth/income inequality is bad. Transfers can be effective for reducing wealth inequality. We'd need more revenue for that, however.
Progressive taxation is good. Progressive taxation that only targets the top 0.1% isn't effective unless income inequality were much worse than it is.
To make a meaningful amount of more revenue via income tax without hurting the bottom 90% too much, we'd need to target the top 10%. That probably means the top tax bracket should kick in around $130K. Much lower than where it is now, but high by the standards of many other rich countries (in the Netherlands 52% kicks in at $63k/yr, in Denmark it's 60% at $55/yr).
We should add a VAT too. Possibly with a simple UBI-style system to offset its impact on the poor (since they consume more of their earnings than the rich)
Progressive taxation is good. Progressive taxation that only targets the top 0.1% isn't effective unless income inequality were much worse than it is.
To make a meaningful amount of more revenue via income tax without hurting the bottom 90% too much, we'd need to target the top 10%. That probably means the top tax bracket should kick in around $130K. Much lower than where it is now, but high by the standards of many other rich countries (in the Netherlands 52% kicks in at $63k/yr, in Denmark it's 60% at $55/yr).
We should add a VAT too. Possibly with a simple UBI-style system to offset its impact on the poor (since they consume more of their earnings than the rich)