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| Unsolicited opinion that could very well be wrong coming....
Wealth begets wealth. If you make 5% on 100,000 you make more than 5% on 100. Additionally, savings and returns will only happen on disposable income and again, rich people have more disposable income. So as wealth builds, it runs away and hides. Meanwhile, "stagnant wages" have been completely skewed by inflation and higher standards of living. Had a guy tell me at the bar on Saturday night while he was eating his $9 sandwich and drinking his $5 beer how his Dad owned a house when he was 24 and blah blah blah. I asked him how often his dad ate $9 sandwiches and drank $5 beers in his $70 jeans with his $250 phone in his pocket. Boy did that get his wheels turning....
Back to income disparity, I could be convinced that the top marginal rate at 70% over 10M of normal income is an ok thing. I don't think anyone has come close to convincing me of that but it could be done. | |
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marginal tax rates
