> 1. Should we trust the government to spend the money more wisely than the folks who earned it? Or said another way, how do you combat the almost inevitable co

> 1. Should we trust the government to spend the money more wisely than the folks who earned it? Or said another way, how do you combat the almost inevitable corruption you see with large government spending? The folks that have a lot of money don't spend it. Out of all of Buffett's, Gates', and Bezos' fortunes how much is being spent 'productively' and how much is just sitting around collecting interest on interest. The velocity of money hasn't been doing much in recent decades, which seems to indicate it's just sitting in accounts: * https://fred.stlouisfed.org/series/M2V https://fred.stlouisfed.org/series/M2V 'Coïncidentally' wealth inequality has been rising in the same time period. Perhaps the link of stagnant money and a lack of activity are linked? There's plenty of old bridges, dams, locks, transit, airports, etc, that need to be repaired and that money could be used for those upgrades providing good pay jobs. "Bezos’s ex-wife MacKenzie Scott can’t give her billions away fast enough", and she is worth 'only' US$ 60B (21st richest person): * https://www.thetimes.co.uk/article/bezoss-ex-wife-mackenzie-scott-cant-give-her-billions-away-fast-enough-wfk2x6tg7 https://www.thetimes.co.uk/article/bezoss-ex-wife-mackenzie-... * https://archive.md/ZzeMI https://archive.md/ZzeMI Further, this is not (or does not have to be) an either-or situation: it's not like all the money goes to the government or stay with the wealthy. If (e.g.) 2-5% of someone's wealth over (say) $10B is taxed annually, they still have 98-95% to do whatever with. > 2. What will incentivize people to work at insane rates if the vast majority of their income and wealth is taxed? What motivates someone with $1B to work more? Is it really to make another $10M? Is Bezos working the hours he is because of money? Is Buffett? Musk? I think the people who get to this level work because of of intrinsic motivation rather than extrinsic rewards. > Would I be willing to put in the long hours and sacrifices usually required to work up to a $1m+ salary if it’s taxed at a 90% rate? Do you understand how marginal tax brackets work? When someone makes $1M + 1 dollars, the government does not take $900K in this hypothetical 90% margin rate: they take 90¢ of the last $1. The rest of the money is taxed at lower rates: * https://www.vox.com/policy-and-politics/2019/1/7/18171975/tax-bracket-marginal-cartoon-ocasio-cortez-70-percent https://www.vox.com/policy-and-politics/2019/1/7/18171975/ta... And a 70% top tax rate isn't unheard of in the US: it's what it used to be during the 1950s and 1960s, and economic growth was just fine. 70% isn't a bad rate to start looking at: * https://www.vox.com/policy-and-politics/2019/1/4/18168431/alexandria-ocasio-cortez-70-percent https://www.vox.com/policy-and-politics/2019/1/4/18168431/al... And perhaps by having ridiculously high top tax brackets will send a signal to people that instead of send money to the top, perhaps the 'little people' should get some of it too: * https://www.vox.com/2014/4/18/5620702/case-for-confiscatory-taxation https://www.vox.com/2014/4/18/5620702/case-for-confiscatory-...