2 ms·
https://i.ytimg.com/vi/rMhvYeQPOcE/maxresdefault.jpg https://i.ytimg.com/vi/rMhvYeQPOcE/maxresdefault.jpg People with more money pay taxes at a lower rate than
by hwillis 11y ago
https://i.ytimg.com/vi/rMhvYeQPOcE/maxresdefault.jpg https://i.ytimg.com/vi/rMhvYeQPOcE/maxresdefault.jpg
People with more money pay taxes at a lower rate than people without. It's very easy to pick obvious cutoffs where people are wealthy to the point of absurdity compared to their "peers".
- ghufran_syed 11y agoThe chart you presented doesn't show the value created, just the value captured by a given segment. Wouldn't that be an important consideration? It's estimated that innovators, the group that Dr Graham is talking about, only capture around 2% of the value they create, with the rest going to society [1]. That's the whole point of the essay, that maybe reducing the 'absurd' levels of wealth will also lead to reduction in the levels of value creation that society currently benefits from. [1] http://www.nber.org/papers/w10433 http://www.nber.org/papers/w10433