Paul GrahamVerified account

I think there's a line to be drawn between drawing the money out for luxuries (or eg most real estate speculation) and re-investing it in other businesses/ventures. IMHO it's the former: lavish excess and making money for its own worth, that people find hateful.

They are just fighting back on the narrative that cutting taxes for billionaires and corporations always trickles down. It doesn't. Time to put this false narrative to sleep.

How about taxing the ultra wealthy because they are able to weird orders of magnitude more influence on policy thus become wealthy and it sort of starts to level the playing field. A little wealth redistribution isn’t a horrible thing as a bonus.

Its solidarity as citizens, not “because no one should be rich”.

Missing one big idea Paul: High marginal tax rates on very large annual income reduces concentration of wealth to individuals. The disparity in income between the lowest and highest paid employees of companies has increased enormously and creates economic distortion.

There should be a HARD limit on tax rates at 50%. We are individuals, and to make any amount of money and have the government take the majority of it is wrong no matter what bracket you're in. That said, 50% is pretty damn high as it is.