Reply #88: Why don't you want millionaires to be taxed fairly?

[1932]

A person making 1 million and a person making 900 million are in very different economic circumstances.

By not allocating the tax burden fairly within the range of incomes you want to tax you're creating all the inequities that a progressive tax is meant to address, but you're just creating it for a different class of people.

A flat tax on millionaires would also shift the burden off the wealthiest and on to the people at the bottom end of the scale which would just mean that you're making it easier to be super rich -- rewarding super-wealth, and making it harder for people who were starting up businesses or working to earn their millions.

So Rockefellers and Bushes can always run the world, and can make their sons president. But you wouldn't get the Steve Jobs people or Harvey Weinsteins or Bill Gates to crack into the ruling structure. Actually, that's sort of what we have anyway.

Society has to allocate tax burdens equitably even for millionaires or you'll have a society which rewards wealth with wealth and not work with wealth. That's why progressivty shouldn't stop at 50,000.