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It is unlikely that the kind of income tax increase suggested in the article will have a material impact on the extremely wealthy. But that's beside the point.
by jganetsk 10y ago
It is unlikely that the kind of income tax increase suggested in the article will have a material impact on the extremely wealthy.
But that's beside the point. I was trying to answer the claim that "demand for goods will only go up" with examples of goods where demand stays the same or goes down. So whether demand for luxury goods stays the same or goes down, you are only reinforcing my point.
- stale2002 10y agoUg, you don't get it. The resources that are being spent on luxury goods will be converted to resources spent on food. That's called economics 101. Supply and demand. If you take money away from rich people, they will have less money to spend on rich people things, and the world will produce less of those things.