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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Worse, the sense of inevitable personal stagnation must defend itself: enter tall poppy syndrome. Only bad people are successful, and success only makes them worse. You don’t just take what’s necessary, you take to punish. Really easy to enter a cultural death spiral from there
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A really sad thing is that there are many hands reaching out & a tremendous amount of free/cheap info on developing one’s skills/thinking for the period of rocky growth ahead, but if you hate the entire class of people who’ve walked the path, that benefit is unavailable to you
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As someone who grew up surrounded by alternative types in college town, this attitude got me for a couple years.
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Cultural Death Spiral would be a great prog metal band though
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The industrialists are to blame! I couldn’t help it!
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1) a wealth tax wasn't proposed 2) 80%? 90%? 3) a junior congresswoman's bad policy proposal that has no backing from the establishment = left wing normalization? 4) there isn't a modern Democratic policy that "punishes" 5) what is "necessary" is up for debate
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The policy is bad because it's counter to the data, 70% MTR would hardly make a dent in our debt or to cover spending. Fixing inefficient systems (American healthcare) would do (much!) more than increasing top MTR to 70%. It's a bad policy but let's not try to be mind readers.
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This is a real danger, and really the real danger of a particular kind of left wing politics. It does not necessarily make some higher marginal tax rate a bad idea for other reasons. IMO this problem, and not just in the US, is more important than one tax change.
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Or maybe the problem is that we believe to “grow” means to collect more personal wealth.
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