the most dangerous thing about left wing normalization of a 70, 80, 90 percent wealth tax is the story it binds to the american psyche — you will never be rich.
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class mobility is already difficult. my mother ran away from the projects at 16 with *nothing* but the belief, enshrined in our american story — the american dream — that if she worked hard she would rise. and she did.
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without the belief that one is master of her own life, the wealthy mostly just become annoying to talk to — trust fund babies forever apologizing for their meaningless existence. but the poor are doomed.
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the american dream must be fought for. it must be argued, expanded, amplified. but first, we must acknowledge it’s under attack. i’m here to tell you: it’s under attack.
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It seems like a poor person can aspire to do better without necessarily aspiring to a tiny chance at a 0.1%-level income. Even with like a 90% marginal rate starting at $10M/y, that's still a pretty high ceiling. Plenty of room to climb before you get there.
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