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> I don't understand why there's such a drive for taxing high earners Because for decades we've allowed capital accumulation to grow faster than salary accumul
by josho 10y ago
> I don't understand why there's such a drive for taxing high earners
Because for decades we've allowed capital accumulation to grow faster than salary accumulation. That's yielded us a class of ultra wealthy. The desire is to reverse the bias from capital to salary, so that the working class can benefit from increased productivity, because so far the benefits of productivity gains has gone largely to the wealthy via their capital gains.
> we should be encouraging people to improve their skills
That would help, but the game is still against you since we've structured our economy over the last few decades to grow capital faster than salary. So, improving your skills and getting paid more still means you are getting farther behind.
- tomp 10y agoHm... seems we're wildly agreeing?! By taxing capital (dividends), as opposed to high income (salary), we'd reduce inequality and improve the working/middle-class.