Conversation

A vicious cycle in inequality I haven’t seen talked about: increasing de-insurancing (for want of a better word) against broad societal risks increasing the marginal value of wealth dollars, which increases resistance to progressive taxation which drives further de-insurancing
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Concrete example: if you’re a multimillionaire and you think fire-fighting budgets are being cut, you will value your 10millionth+1 dollar more to ensure greater personal resilience against fire. So you’ll resist more taxes. Which will put more pressure on firefighting budget.
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Seems like a specific form of diminishing societal trust (e.g. trust that society will care for you through actions like insurance) leading to actions that diminish societal trust.