Unfortunately the reality is this leads to a regressive tax structure, as history has shown. Intelligent people can accumulate wealth many orders of magnitude f

Unfortunately the reality is this leads to a regressive tax structure, as history has shown. Intelligent people can accumulate wealth many orders of magnitude faster than the “unwashed masses.” I’m actually surprised by this since I assumed 99% of people are ok with progressive taxation. I believe the real argument lies in how progressive it is, as the extreme limit leads to the wealthy paying 99% of the taxes. I think currently the 1% pay 50% of the taxes in the US so the sliding scale it more towards progressivism anyways. You could argue how much more you can squeeze vs. the repercussions of such.