"I had a couple of reactions when this story broke.
1. The rich already do pay a lot more, with the top 10 percent shouldering about 70 percent of the income tax burden. At what point would Ms. Warren be satisfied?
2. If you want a system where people pay proportionately more for public goods, isn’t that an argument for a simple and fair flat tax?
3. People get rich by providing value to the rest of us. Is it wise to subject those people to disproportionate tax penalties when that may discourage them from utilizing their talents?
4. If some people get rich illegitimately because of special handouts and subsidies from politicians, isn’t the solution to get rid of the bad programs rather than indiscriminately penalize all high-income households?"There is a ton more at the link, so go enjoy it for yourself.
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