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what you're missing here is that discussions of higher marginal income taxes also often come with discussions about higher capital gains tax and higher estate t
by adgjlsfhk1 5y ago
what you're missing here is that discussions of higher marginal income taxes also often come with discussions about higher capital gains tax and higher estate tax which are the two main ways wealth is hoarded.
- jpadkins 5y agomight be my personal selection bias, but I see it rarely being pushed as the solution. If you think about it, the right order of operations is to consider higher income taxes only a decade after you instituted ultra high wealth taxes and seen the effects on concentrations of wealth. You only need higher marginal income taxes if there is too much 'flow' to the ultra concentrated wealth bucket (and does active harm if you don't have an effective 'drain' to the ultra concentrated wealth bucket)