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Who cares about wealth? If I want to save my income more than my neighbor and build up a relatively large amount of wealth, that's my business. If I go out and
by savanaly 9y ago
Who cares about wealth? If I want to save my income more than my neighbor and build up a relatively large amount of wealth, that's my business. If I go out and earn a very large income compared to my neighbor, I can at least see how that's the government's business and agree that the higher income earner should pay more. But I strongly disagree with the notion that wealth accumulation should be penalized.
- ekimekim 9y agoI wasn't meaning to imply that wealth should be taxed, however it's a fair point that I'm rather badly conflating income and wealth in the OP - I'm basically using wealth as a proxy for income. I suspect that they are very strongly correlated though (a quick google shows [1]). Unfortunately I can't seem to track down a hard figure on the 20th percentile of income in the US. [1] http://www.visualcapitalist.com/relationship-income-and-wealth/ http://www.visualcapitalist.com/relationship-income-and-weal...
- TheAdamAndChe 9y agoThe issue is scale. It's one thing to have a few million dollars and give an inheritance to your family. It's another thing to make hundreds of millions if not billions of dollars a year at a time when the quality of life for most people in the country is declining. It probably wouldn't be as much of an issue if everyone was experiencing the growth that the top 0.1% is.