Reply #12: as a high UK income tax payer

[McKenzie]

I totally agree that tax should be progressive. WTF I'd do with more money I can't fathom. That might sound a tad stupid but if we all asked ourselves "how much is enough?" we might get the basis of a good debate going. The ceaseless pursuit of more and more wealth is obsessive behaviour imho. It's not necessary so it must be driven by motivations other than simple necessity. Let's leave out the argument that personal advancement underpins our struggle to succeed in material terms because that requires detailed discussion; I want to keep this simple for now.

The oriental concept of yin and yang is relevant here. The current wealth imbalance is so great that our societal structures are waaay out of balance with the concomitant tensions that result therefrom. As long as we live in a society where wealth imbalance is so great that a large part of that society has to struggle to survive in the midst of obscene wealth is just asking for trouble. The imbalance wil eventually trigger a breaskdown to try and redress the situation.

In short, progressive taxation is an essential component of a fair and just society where equality of opportunity is open to all. The current concentration of wealth in a tiny segment of society excludes entrepreneurs from the market and makes a mockery of free market principles that would have Adam Smith turning in his grave.