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Millionaires who want to pay higher taxes

I would probably be happy if stocks, capital gains, transactions, etc... were taxed in a way that it made better economic sense to invest in production, R&D, and such rather than chasing paper and accumulating more paper. I know my wage income is hammered compared to my capital gains and such.

I look at the huge corporations that come here and pay no property tax or have other fees waves by the city/county/state to locate here. The growth they bring never pays for loss of that revenue when it comes to making the roads, sewer, stormwater, etc... infrastructure keep up with the increased demand created by the development. The city comes knocking on my door wanting to raise my property tax and/or sales tax to make up the gap. But all those jobs corporation X brought to down, those are great. And magically we end up with horrendous traffic and lagoon destroying algae blooms. I'd be happy if the FOXCONs and AMAZONs of the world couldn't go around extorting local governments.
 
So according to you, detailing what is wrong with the question is evasion.
So according to you, anything to which you are ignorant is a faulty premise.

You wondered what the faulty premises were, but didn't recognize them when they were spelled out.
I recognized them as lame and stupid excuses for your evasion.

So, here's a rephrase of Ziprhead's question. In your opinion, is the current inequality of wealth (as you understand it) an indication of a problem?

Finally an intelligent question.

Yes, it can be and probably is an indication of a problem.
 
So according to you, anything to which you are ignorant is a faulty premise.

I recognized them as lame and stupid excuses for your evasion.

So, here's a rephrase of Ziprhead's question. In your opinion, is the current inequality of wealth (as you understand it) an indication of a problem?

Finally an intelligent question.

Yes, it can be and probably is an indication of a problem.
Finally, a response that actually addresses the content of a post. Thank you.
 
"Do you agree that wealth concentration in this nation is a problem?" comes with a built-in premise: that economics is a zero-sum game.

Concentration is not limited to uranium enrichment or even chemistry in general, nor does it presume a closed system with a finite amount of what is being concentrated.

It's standard general meaning is simply "A close gathering of things" (OED). Therefore, if any type of units of wealth are gathered in large numbers under the possession of a person, that is an accurate and literal application of the term concentration that any competent English speaker readily understands.

And the standard general meaning of "gather" is simply "Bring together and take in from scattered places or sources." (OED). You little think how eloquently you have pleaded your rival's cause.

... taking ... taking ... taking ...
That makes four times you've proven my point. People who complain about "concentration" of wealth are implying that wealthy people took it and didn't cause it to exist in the first place.

The number of Americans with negative wealth has increased and the average amount of debt has doubled, yet Americans are working about the same number of hours and productivity/hour is up due to tech. So where is the wealth going created by this labor?
Do you have evidence that what created the wealth was the labor of the people with negative wealth?

Also, even if all members of a society increase in wealth over time, an increase in relative wealth disparity (aka an increase in wealth concentration)
That's not an increase in concentration unless the wealth was gathered, aka taken. Otherwise it's just an increase in inequality.

means an increase in the disparity in nearly all forms of social, economic, and political power, which destabilizes society in ways that threatens the absolute levels of wealth and well being its members enjoy.
Well then, now you're talking about whether inequality of wealth is a problem. My work here is done.
 
But they already pay more to the country. We already have a discriminatory tax system that requires most people to work for the government one to four days a month while requiring people in a minority group to work for the government eight or ten days a month. If one of those guys working ten days a month for the government wants to put in twelve or fifteen days a month, nobody is raising any objection. Nobody's upset about that. If Jim Millionaire wants to be that patriotic, go for it! What we object to is that he's trying to get the government to force some other member of the minority group to work more for the government too, even though she's already putting in twice as many hours for the government as the majority put in. She's doing her part and she's doing somebody else's part too, but that's not enough to satisfy for Jim Millionaire. Work that "rich bitch" harder! That's not Jim Millionaire being patriotic. That's Jim Millionaire being a dick. That's no different from some hypothetical Ottoman Empire Christian saying the special tax on Christians isn't high enough. That's not patriotic. Patriotic would be saying Christians and Muslims are all in their country together and the law should be the same for all.


Nobody is against a "rich bitch" giving to charity. As for why a sane person would be against Bill Gates saying somebody else's taxes should be raised, well, it's been explained to you in perfectly clear terms. If you don't understand, that's on you.

Do y'all think that you'll be among the upper fraction of a percent, one day, and you'll be too greedy to want to share more of your wealth with your country? Yeah. Right. That must be it.
Did those of us who don't approve of the law discriminating against your outgroup more than it already does insult you, that you feel the need to insult us back? Did we misrepresent to you? Did we make up a fake motivation for why you think what you think? Did we duck dealing with the arguments you actually made?

Instead of having such concern and compassion for the ultra-wealthy,
So who expressed compassion for the ultra-wealthy?

Look, I get it that you've been sucked into the leftist religion. And like all religions, it teaches its victims to think tribally and it cripples their moral sense. Tribalists usually not only lose the ability to recognize injustice against their outgroup, but they also lose the ability to recognize other people recognizing injustice against their outgroup. Not only do you become tribalists, you presume everybody else is a tribalist too. And in the specific case of leftism the religion gets adherents to equate morality with feeling sorry for people, much the same way Christianity gets adherents to equate morality with obeying their God. So when you guys encounter someone who disapproves of cheating a rich guy, your ideology teaches you to take for granted either that the upper fraction of a percent are his tribe, or else that he feels sorry for the ultra wealthy. The concept that he has a principled objection to cheating people, a principle he applies to everyone, not just to his ingroup or just to those he feels compassion for, well, that just isn't a concept your moral sense is equipped to entertain. It's been crippled by your religion. You imagine you're seeing compassion for the ultra wealthy because you're projecting. You wouldn't object to injustice against someone unless you felt compassion for him, so you assume others wouldn't either. That is why you, like so many, many other leftists, blatantly ignore our explanations and instead invent fairy tales about our psychology.

I don't have as much wealth and income as these people do and I believe that I should be taxed more on my income. I am currently in the top 2% of earners because while my wife did retire this year her salary was paid through November, and she still holds the majority of the stock in the engineering firm, and it had a profitable year. It is a professional corporation, owned by registered professional engineers who work for the firm.

The rich have to pay more of the taxes because they earn most of the money above the amount needed to live a reasonable life in this country. It is that simple. It isn't discrimination; you can only get money from the people that have money.

Previously in the thread, you seemed to be reluctant to say whether you believed that growing income and wealth inequality damages the economy. Well does hurt the economy and the reason that it does is easy to understand.

When you make more money, there is only two things that you can do with that money. You can spend it or you can save it. And it doesn't matter how you save it, in a bank account, in the stock market, in T-Bills or sewn into a mattress when you save it that money doesn't have any impact in the economy. It doesn't pay for products or services that will pay someone else's wages, and it doesn't encourage businesses to invest in their own business to make more profits. This is the paradox of thrift that saving is good for the individual but bad for the overall economy.

And there is a difference in how the rich make this decision whether to spend or to save their income, they are much more likely to save their income than the non-rich, who are more likely to spend it. This simple fact means that the way that the income distribution in an economy helps to determine how much growth there is in the economy. An economy where the income distribution after taxes is weighted to the non-rich will have higher economic growth than an economy like ours with an income distribution skewed toward the rich.

This effect is even more apparent when we look at additional income (or as economists call it positive marginal income, presumably to be as obscure as possible.) Studies have shown that the top 10% of earners save 85% of additional income and the 90% rest of the earners spend 85% of any extra pay.
 
But they already pay more to the country. We already have a discriminatory tax system that requires most people to work for the government one to four days a month while requiring people in a minority group to work for the government eight or ten days a month. If one of those guys working ten days a month for the government wants to put in twelve or fifteen days a month, nobody is raising any objection. Nobody's upset about that. If Jim Millionaire wants to be that patriotic, go for it! What we object to is that he's trying to get the government to force some other member of the minority group to work more for the government too, even though she's already putting in twice as many hours for the government as the majority put in. She's doing her part and she's doing somebody else's part too, but that's not enough to satisfy for Jim Millionaire. Work that "rich bitch" harder! That's not Jim Millionaire being patriotic. That's Jim Millionaire being a dick. That's no different from some hypothetical Ottoman Empire Christian saying the special tax on Christians isn't high enough. That's not patriotic. Patriotic would be saying Christians and Muslims are all in their country together and the law should be the same for all.


Nobody is against a "rich bitch" giving to charity. As for why a sane person would be against Bill Gates saying somebody else's taxes should be raised, well, it's been explained to you in perfectly clear terms. If you don't understand, that's on you.


Did those of us who don't approve of the law discriminating against your outgroup more than it already does insult you, that you feel the need to insult us back? Did we misrepresent to you? Did we make up a fake motivation for why you think what you think? Did we duck dealing with the arguments you actually made?


So who expressed compassion for the ultra-wealthy?

Look, I get it that you've been sucked into the leftist religion. And like all religions, it teaches its victims to think tribally and it cripples their moral sense. Tribalists usually not only lose the ability to recognize injustice against their outgroup, but they also lose the ability to recognize other people recognizing injustice against their outgroup. Not only do you become tribalists, you presume everybody else is a tribalist too. And in the specific case of leftism the religion gets adherents to equate morality with feeling sorry for people, much the same way Christianity gets adherents to equate morality with obeying their God. So when you guys encounter someone who disapproves of cheating a rich guy, your ideology teaches you to take for granted either that the upper fraction of a percent are his tribe, or else that he feels sorry for the ultra wealthy. The concept that he has a principled objection to cheating people, a principle he applies to everyone, not just to his ingroup or just to those he feels compassion for, well, that just isn't a concept your moral sense is equipped to entertain. It's been crippled by your religion. You imagine you're seeing compassion for the ultra wealthy because you're projecting. You wouldn't object to injustice against someone unless you felt compassion for him, so you assume others wouldn't either. That is why you, like so many, many other leftists, blatantly ignore our explanations and instead invent fairy tales about our psychology.

I don't have as much wealth and income as these people do and I believe that I should be taxed more on my income. I am currently in the top 2% of earners because while my wife did retire this year her salary was paid through November, and she still holds the majority of the stock in the engineering firm, and it had a profitable year. It is a professional corporation, owned by registered professional engineers who work for the firm.

The rich have to pay more of the taxes because they earn most of the money above the amount needed to live a reasonable life in this country. It is that simple. It isn't discrimination; you can only get money from the people that have money.

Previously in the thread, you seemed to be reluctant to say whether you believed that growing income and wealth inequality damages the economy. Well does hurt the economy and the reason that it does is easy to understand.

When you make more money, there is only two things that you can do with that money. You can spend it or you can save it. And it doesn't matter how you save it, in a bank account, in the stock market, in T-Bills or sewn into a mattress when you save it that money doesn't have any impact in the economy. It doesn't pay for products or services that will pay someone else's wages, and it doesn't encourage businesses to invest in their own business to make more profits. This is the paradox of thrift that saving is good for the individual but bad for the overall economy.

And there is a difference in how the rich make this decision whether to spend or to save their income, they are much more likely to save their income than the non-rich, who are more likely to spend it. This simple fact means that the way that the income distribution in an economy helps to determine how much growth there is in the economy. An economy where the income distribution after taxes is weighted to the non-rich will have higher economic growth than an economy like ours with an income distribution skewed toward the rich.

This effect is even more apparent when we look at additional income (or as economists call it positive marginal income, presumably to be as obscure as possible.) Studies have shown that the top 10% of earners save 85% of additional income and the 90% rest of the earners spend 85% of any extra pay.

I hope you find this address where you can send the government extra money helpful:

https://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm#DebtFinance
 
There is nothing dishonest about the question. One can answer it with a simple "no" or "yes" without an explanation. It is fascinating to see the lengths someone will go to evade answering a simple question.

Which is why ZiprHead won't answer when I asked him if he stopped beating his wife, a simple "yes" or "no" question that does not require an explanation.

So, to his question.
1. Is there a proper amount of wealth concentration?
2. How could you measure it? Is there an objective standard you can point to?
3. What is it's cause? This is why my "evasion" comes in, because I skipped the symptom and addressed the cause. He didn't like it, and you don't understand it.

So yes, it's a bullshit question.

So you feel that you should be excused for answering what you deem to be a bullsh*t question with a bullsh*t evasion of the question? But this isn't a bullsh*t question, and it is easily answered. See above in my response to Bomb#20. Increasing income and wealth inequality does harm the economy because it reduces the growth in the economy.

It doesn't matter whether or not you can name a proper wealth concentration. The economy is not a static system, it is a dynamic system. What we can say for sure is that more income and wealth inequality reduces economic growth and diminishing income and wealth inequality increases economic growth.

Income inequality results in wealth inequality. It is easy to measure income inequality. It is the distance between the average income and the marginal income which is the income at which splits the income earning population in half with half earning more and half earning less than the marginal income.

There is no objective standard that anyone can point to nor do we need one. If you need more growth in the economy, you need less income and wealth inequality. If you need less economic growth in the economy increased inequality is required. A certain way to adjust the effective income distribution in the economy is by taxes on incomes.

The cause of the income and the resultant wealth inequality is primarily the erosion of wage negotiating power by the workers. This has resulted from the abandonment of the support from the government for the labor unions who negotiated wages on much more equal terms with the corporations than the individual workers can. The workers negotiating power has been further eroded by globalization which has them competing against the workers in low wage countries like China or in the country against low wage workers like H1B1 visa workers and illegal immigrants. It has been further eroded by the fear of being laid off. Workers who are afraid of being laid off don't demand higher wages.

So see, you were wrong, income and wealth inequality is a cause of a poor economy, and a symptom too.

And we haven't even discussed the biggest problem with high income and wealth inequality. That eventually workers will realize that they are intentionally being taken advantage of and will openly rebel, whether in the streets or by voting for a populist authoritarian like Chavez in Venezuela or Trump in the US. This is when a country is really in trouble.
 
So according to you, anything to which you are ignorant is a faulty premise.

I recognized them as lame and stupid excuses for your evasion.

So, here's a rephrase of Ziprhead's question. In your opinion, is the current inequality of wealth (as you understand it) an indication of a problem?

Finally an intelligent question.

Yes, it can be and probably is an indication of a problem.
Finally, a response that actually addresses the content of a post. Thank you.

The secret to getting a good answer is asking a good question.
 
Oh joy, more disingenuous semantic games, the hallmark of someone with no intellectual substance.

And the standard general meaning of "gather" is simply "Bring together and take in from scattered places or sources." (OED). You little think how eloquently you have pleaded your rival's cause.
Really? How does that support your cause that the only legitimate literal use of "concentration" is in reference to uranium enrichment and that any other use is merely metaphorical?
And nothing about the definition of gather implies that things were gathered from within a closed system. They can be gathered from anywhere, and can be created then gathered together.
And the actual word was the noun "gathering", not the verb "gather" which you swapped in b/c an verb implies some intentional actor who brought each the objects together. Gatherings/concentrations of objects can occur via any type of process and can be an unintended epiphenomena, such as birds who independently fly themselves to the same island and incidentally produce a gathering/concentration of birds (the example given right in OEDs definition of "concentration). In fact, objects can be concentrated without ever coming from anywhere, but rather simply coming into existence within close proximity of each other, resulting in a gathering/concentration of trees, stars, dark matter, etc..
IOW, nothing about concentration or gathering implies merely that that the objects are in proximity of each other, with no implication that ever even came from anywhere, let alone your magical thinking assumption that they must always have been brought together by some sentient mind who took them from somewhere.

... taking ... taking ... taking ...
That makes four times you've proven my point. People who complain about "concentration" of wealth are implying that wealthy people took it and didn't cause it to exist in the first place.
Gee, now why would you delete the 161 other words I wrote that provided the context for the otherwise meaningless 3 words thatyou kept?
Well, there is only 1 possible reason, to lie about the meaning of those words. Do have any other form of rhetoric that isn't intellectually dishonest?
What I said in those other words you clipped made two things clear:
1) The issue of whether "concentration" inherently implies a closed system where wealth is taken form the poor (your assertion that I soundly falsified), is separate from the issue of what I think are the sources of increasing wealth disparities (note that increasing disparities isn't even the same thing and doesn't have the same cause as there being some amount of disparity at a given timepoint).
2) That I explicitly agreed with the idea of wealth being added/created, and that the "taking" in that context merely implies that someone claiming a larger portion of the created wealth. There is zero logical implication there that those taking that created wealth did not contribute to its creation. The wealth is added by someone and my comments thus far have been agnostic on who added it.

The number of Americans with negative wealth has increased and the average amount of debt has doubled, yet Americans are working about the same number of hours and productivity/hour is up due to tech. So where is the wealth going created by this labor?
Do you have evidence that what created the wealth was the labor of the people with negative wealth?
Ah, so now you admit that I explicitly acknowledge the reality of wealth creation, yet just a second ago you were stripping 98% of my words to pretend that I think wealth cannot be created and can only be taken from one place to another. If you're gonna grossly misrepresent my words, at least try to be consistent.

Barring magical forces (much like your believed little fairies who took the stars and gathered them together to create the concentrations we call galaxies), wealth is not created from nothing nor can it be created merely from ideas which have no direct impact on the world. Physical actions (aka labor) is what creates wealth by causally manipulating the physical environment and thus adding the wealth of the labor to the existing wealth of what is already in the environment.
The vast majority of people with increased negative wealth work for people who only employ other’s who add wealth. Given that, and given that these laborers have worked the same amount and there is evidence that the types of labor they do produce more efficiently, it would quite extraordinary (downright magical), if their labor was somehow producing less wealth. If your theory requires that extraordinary assumption then you need extraordinary evidence for it. Otherwise, the most parsimonious account is simply that the division of the wealth their labor is creating has changed in favor of the more wealthy, who not coincidently have gotten wealthier during that same period (a fact that your theory that laborers are producing less of value cannot explain).
Also, even if all members of a society increase in wealth over time, an increase in relative wealth disparity (aka an increase in wealth concentration)
That's not an increase in concentration unless the wealth was gathered, aka taken. Otherwise it's just an increase in inequality.
As already well established, you equating of “taken” with “concentration” is based upon your magical thinking and anthropomorphizing of the Universe and has nothing to do with standard meanings and used of the word.
means an increase in the disparity in nearly all forms of social, economic, and political power, which destabilizes society in ways that threatens the absolute levels of wealth and well being its members enjoy.
Well then, now you're talking about whether inequality of wealth is a problem.
Yes, after establishing that concentration of wealth does not presume a closed system and can refer to a situation involving a fluctuating amount of total wealth, I ended by pointing out the concerns about wealth concentration that are the point of the thread exist, regardless of whether or not the is the result of zero-sum transfers of wealth.
My work here is done.
If by “work” you mean your success is showing that you have no grasp of how language works and that your only form of argument is semantic games and deliberate misrepresentation, then yes, you are done.
 
Finally, a response that actually addresses the content of a post. Thank you.

The secret to getting a good answer is asking a good question.
Your standard for a good answer is much lower than mine. And it took over 24 hours to produce a mediocre answer that anyone else could could have produced to response to Ziprhead's initial question.
 
Finally, a response that actually addresses the content of a post. Thank you.

The secret to getting a good answer is asking a good question.
Your standard for a good answer is much lower than mine. And it took over 24 hours to produce a mediocre answer that anyone else could could have produced to response to Ziprhead's initial question.

Your question wasn't the same as ZiprHead's question.
 
Your standard for a good answer is much lower than mine. And it took over 24 hours to produce a mediocre answer that anyone else could could have produced to response to Ziprhead's initial question.

Your question wasn't the same as ZiprHead's question.
Perhaps to the anal-pedantic, but not to any thinking person participating in context.
 
I don't have as much wealth and income as these people do and I believe that I should be taxed more on my income. I am currently in the top 2% of earners because while my wife did retire this year her salary was paid through November, and she still holds the majority of the stock in the engineering firm, and it had a profitable year. It is a professional corporation, owned by registered professional engineers who work for the firm.

The rich have to pay more of the taxes because they earn most of the money above the amount needed to live a reasonable life in this country. It is that simple. It isn't discrimination; you can only get money from the people that have money.

Previously in the thread, you seemed to be reluctant to say whether you believed that growing income and wealth inequality damages the economy. Well does hurt the economy and the reason that it does is easy to understand.

When you make more money, there is only two things that you can do with that money. You can spend it or you can save it. And it doesn't matter how you save it, in a bank account, in the stock market, in T-Bills or sewn into a mattress when you save it that money doesn't have any impact in the economy. It doesn't pay for products or services that will pay someone else's wages, and it doesn't encourage businesses to invest in their own business to make more profits. This is the paradox of thrift that saving is good for the individual but bad for the overall economy.

And there is a difference in how the rich make this decision whether to spend or to save their income, they are much more likely to save their income than the non-rich, who are more likely to spend it. This simple fact means that the way that the income distribution in an economy helps to determine how much growth there is in the economy. An economy where the income distribution after taxes is weighted to the non-rich will have higher economic growth than an economy like ours with an income distribution skewed toward the rich.

This effect is even more apparent when we look at additional income (or as economists call it positive marginal income, presumably to be as obscure as possible.) Studies have shown that the top 10% of earners save 85% of additional income and the 90% rest of the earners spend 85% of any extra pay.

And when they do spend additional income, they don't buy more goods and services, they start buying governments and legislation, which further concentrates(*) wealth.

(* a technical term I've borrowed from nuclear physics)
 
Higher taxes (or lower taxes) don't conflict with free trade or free-market principles.

[Governor Andrew] Cuomo said the super-wealthy in New York – accounting for 1 percent of tax filers – end up paying 46 percent of the personal income taxes the state collects each year.

“Tax the rich. Tax the rich. Tax the rich. We did that. God forbid the rich leave,” Cuomo said of a mobile group of people who can more easily switch residences to states with lower state and local tax levels.
https://www.econlib.org/cuomo-admits-tax-burden-on-the-rich/

There's a solution to this which would correct most of the dilemma of how to tax the rich higher without driving them away (or rather, without driving their wealth away).

Instead of taxing their INCOME, tax their property, especially their real estate. What would be wrong with a PROGRESSIVE PROPERTY TAX?

Then if they leave the state, they cannot take their wealth with them. The land/resources remain behind, where it is still taxed, regardless where the owner relocates to.

Most of the wealth generation requires commercial property, at some point. And, if some of the rich are able to earn their fortune without using commercial property, maybe they should not pay such high taxes anyway. It's the greater reliance on real estate or natural resources which makes them more dependent on society and the system, so it's this which should determine how much tax they pay. Those who instead generate wealth with their talent, e.g., earning massive income because they are in so much demand, should not necessarily be taxed at a much higher rate.

Also, at the federal level, a tax on Wall Street (on stock transactions) would capture a chunk of revenue from the super-rich, which they would pay regardless where they might relocate to.

There should be less reliance on income tax, which is easy to avoid paying, not only by relocating (to another state or country), but in many ways which allow cheating in so many forms, whereas a tax on property and a tax on stock transactions cannot easily be avoided.

Good suggestions. But how will you implement them? Here is the current situation in a nutshell.

• the already rich wanted more income and wealth.

That's what everyone wants (wanted) and will always want, no matter what.


• there were two ways that they could achieve this.

1. they could work harder and invest more of their wealth in new research and development or,

2. they could usurp democracy by buying one political party completely and part of the other and divide the electorate along any possible fissure to gain the votes of a majority who are most susceptible to believing lies and propaganda.

• they chose #2 because it was many times cheaper than #1 and involved less risk.

How do you pass even one of your proposed taxes when a majority of the voters believe in such absurdities as a self-regulating free market, beneficial free trade for all and a truly free market for labor?

This question assumes free market and free trade and market wages conflicts with any taxation. Which is nonsensical.

There are many possible new or increased taxes which have nothing to do with interfering with the free market or free trade or market-based wage levels.

In addition to a progressive property tax (perhaps only at the state level) and a tax on Wall Street transactions, we also need higher gasoline taxes and a tax on coal (i.e., meaning higher utility bills). There could also be some higher user fees, as well as higher income taxes on the upper-income brackets, and also some higher inheritance taxes, also higher tax on capital gains. There's nothing about such higher taxes which conflicts with the free market and free trade and with letting all prices be set by supply-and-demand rather than interference by the state.

Taxes are not something subject to the private market or trade, or something in conflict with free market/free trade. A free market is compatible with either a high-tax or a low-tax political philosophy. The market and trade is dependent on infrastructure paid for by taxes.
 
I don't have as much wealth and income as these people do and I believe that I should be taxed more on my income. I am currently in the top 2% of earners because while my wife did retire this year her salary was paid through November, and she still holds the majority of the stock in the engineering firm, and it had a profitable year. It is a professional corporation, owned by registered professional engineers who work for the firm.

The rich have to pay more of the taxes because they earn most of the money above the amount needed to live a reasonable life in this country. It is that simple. It isn't discrimination; you can only get money from the people that have money.

Not everybody agrees with this take, by the way. Some of us look at the system that put the money in their hands in the first place and ask whether it constitutes "earning" at all. Earning something means you contributed value and are thus entitled to a portion of what you contributed. How value is defined is of course open to interpretation, but one thing seems pretty clear: if the person controlling the revenue is also the person who decides how big a portion of it he's entitled to, we aren't talking about earnings anymore. We're relying on his good nature and kindness to portion out the profits among all those who contributed to creating them, based on his personal opinion of what they deserve. Of course he's going to take most of it for himself and his buddies, even though they didn't lift a finger to produce or provide whatever they sell.

Is it any mystery that the gap between rich and poor continues to grow, when the richer someone is, the more likely they are to be able to just give themselves arbitrary amounts of money, and vice versa?
 
I don't have as much wealth and income as these people do and I believe that I should be taxed more on my income. I am currently in the top 2%...

The rich have to pay more of the taxes because they earn most of the money above the amount needed to live a reasonable life in this country. It is that simple. It isn't discrimination; you can only get money from the people that have money.
But that doesn't require higher marginal rates on some than on others. The tax rate is slope; the amount of money needed to live a reasonable life is intercept. Or to put it differently, we should tax people on their profit, not on their revenue. We all recognize it would be stupid to tax a supermarket that buys its inputs for $1,000,000 and sells food for $1,001,000 on its revenue rather than on its profit -- supermarkets' profit margins are paper thin and taking 21% of revenue would simply shut down the supermarkets. We let businesses write off legitimate business expenses -- the amount of money they have to spend in order to keep the taxable activity going at all. There's no reason but historical accident that we don't apply the same principle to people. So yes, of course people have to be left enough of their income to live on. (And frankly, the rule that your medical expenses have to run over 7.5% of your income before they're deductible is just asinine.)

But to jump from that premise to the conclusion that a guy in the top 0.1% should be paying a higher marginal rate than you in the top 2% pay would be a complete non sequitur. Neither of you is being taxed out of putting food on the table. The fact that it isn't discrimination to tax you more per dollar than an unemployed homeless guy doesn't change the fact that it is discrimination to tax Tom Cruise more per dollar than you and me. Doing a citizen's full share of societal upkeep isn't a hardship for any one of us.

Previously in the thread, you seemed to be reluctant to say whether you believed that growing income and wealth inequality damages the economy.
I don't know what earlier post you're referring to; but "growing income and wealth inequality" isn't a real thing, so whether it "damages the economy" is about as substantive a question as whether the virgin-stealing dragon is damaging the economy.

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Well does hurt the economy and the reason that it does is easy to understand.

When you make more money, there is only two things that you can do with that money. You can spend it or you can save it. And it doesn't matter how you save it, in a bank account, in the stock market, in T-Bills or sewn into a mattress when you save it that money doesn't have any impact in the economy. It doesn't pay for products or services that will pay someone else's wages, and it doesn't encourage businesses to invest in their own business to make more profits.
Well, no, that reason isn't at all easy to understand. That reason looks for all the world like mush-headed folk-economics, blatantly disconnected from reality. Of course it matters how you save it. When you save money in bank accounts, the banks pay you interest. Think about that for a minute. They're doing you the services of keeping track of your money for you, keeping it safe from thieves for you, and delivering it to anybody you tell them to for you, and they pay you! In any normal world, like the world before modern economies, you'd pay them for all those services. For them to pay you is as nutty as if you shot a guy in the face with a shotgun and he apologized to you.

So why do you think a bank does that? Magnanimity? It's owner feels charitable toward all these people laying off their responsibilities on her? Obviously not. The bank pays you because the owner wants to borrow your money from you, and she wants to give you a reason to lend it to her instead of to someone else, because she's going to make a profit on having your money for a while. How is having your money for a while going to make more money for her? Simple: the banker's going to re-lend your money to someone else, and she's going to charge him a higher interest rate than she'll be paying you.

So let's think about this guy, whoever he is, who's willing to pay the banker a bunch of money in exchange for the privilege of getting to have your money for a while. Why is he willing to do that? What's in it for him? Does he like green, aesthetically? Does he get off on rolling around in a bathtub full of dollars? No, of course not. He wants to borrow that money because, let's all say it together, <drumroll please>

he's going to spend it.

And when he spends it, it's going to pay for products or services that will pay someone else's wages, and it will encourage businesses to invest in their own business to make more profits. Q.E.D.

This is the paradox of thrift that saving is good for the individual but bad for the overall economy.
No. The paradox of thrift applies to money sewn into a mattress. It demonstrably does not apply to money saved in an interest-bearing bank account. A parallel argument shows it likewise doesn't apply to money saved in the stock market. (Whether it applies to T-Bills is a more complicated question since the feds have the option of printing money.)

And there is a difference in how the rich make this decision whether to spend or to save their income, <rest snipped since it proceeds from a false premise>
 
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