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I do think taxes on the wealthy are too low. But I also think it's politically unlikely for the tax rate to get to fairness, and I also think there's simply no
by cmurf 7y ago
I do think taxes on the wealthy are too low. But I also think it's politically unlikely for the tax rate to get to fairness, and I also think there's simply not enough money to go around. For sure other countries with more fair tax systems do have qualitatively less wealth inequality and my bias is I consider that a social good.
But I think we're getting the diagnosis wrong. Everyone in the economic system is agreeing to participate in such a way that emphasizes elite labor. And it is that elitism in labor that causes people lower down on the ladder to see far lower wage increases. e.g. a doctor today makes 8x the salary of a nurse, whereas 30 years ago a doctor made 4x the salary of a nurse. OK so which "free market" is getting that differential wrong? Today's or the one 30 years ago? There is a cultural perception that, oh I have to see a doctor for this problem, when a nurse would suffice - this demand of needing only experience. And what you get are wealthy people seeing docs for b.s. issues because they can afford it, but it's totally unnecessary, and reduces the capacity for the doctor for things they should see.
Anyway, it's not a meritocracy, it's not a free market, we have capitalism failure and govenment failure and all we really have innovated over the past fifty years is - well not much. Not even the insults in the adversarial bickering about how to solve it have improved.
More unpopular than taxes, I suspect, would be adding noise (or randomness if you prefer) to elite education entry requirements. That way it's not just about wealthy parents lowering ladders in the form of money and access to elite schools for their very average children. More people need more opportunity to get ahead. We're not going to get to equal wealth, there isn't enough of it, and we probably would all agree we would like the looks of such an engineered society anyway.