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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (747972)	10/20/2013 3:19:41 PM
From: Tenchusatsu	Read Replies (2) \| Respond to of 1573435

Z, I can to some extent go along with your prior argument that progressive tax rates don't necessarily fix inequality, but there really is no evidence of it going the other way. My argument, based on observations and basic economic principles, is that progressive tax rates help cement income inequality. The main vehicle for getting rich these days is speculation. I agree with economists who argue that today's global economy rewards speculation a lot more than the traditional hard work and innovation. Progressive tax rates are meant to go after all that speculative income, but more often than not, it becomes a huge tax on the upper middle class. The result is that the speculation economy gets reinforced more and more. Traditional hard work and innovation gets punished, and the only people who will ever make a fortune are the speculators. Tenchusatsu