Exactly. I described this exact process on Quora a few days ago [1]. Note, that doesn't mean that I believe that the current distribution of wealth is good, but

Exactly. I described this exact process on Quora a few days ago [1]. Note, that doesn't mean that I believe that the current distribution of wealth is good, but that simply taxing the super-rich a lot is not going to work (as a mechanism) [2]. Small tax increases on the rich may be tolerated in the US (since rates are lower than, say, in France or Britain), but there is a threshold, after which there needs to be other sources of tax revenue. But it's very strange because many Americans (not just the super rich) seem to care about the tax rates of the rich [3], I explain because of their own branch of economics or cultural reasons. [1] http://www.quora.com/What-are-the-reasonable-justifications-for-cutting-taxes-for-the-wealthy-in-the-US/answer/Jinghao-Yan http://www.quora.com/What-are-the-reasonable-justifications-... [2] http://www.quora.com/Should-wealth-be-more-evenly-distributed-in-the-United-States/answer/Jinghao-Yan http://www.quora.com/Should-wealth-be-more-evenly-distribute... [3] http://www.quora.com/Why-do-most-Americans-care-whether-the-super-wealthy-get-tax-cuts/answer/Jinghao-Yan http://www.quora.com/Why-do-most-Americans-care-whether-the-...