tag:blogger.com,1999:blog-8270906704031641534.post4779385942434442795..comments2023-09-10T08:14:36.455-07:00Comments on The Animal Spirits Page: How to fix the economyAnonymoushttp://www.blogger.com/profile/06852145145315416007noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-8270906704031641534.post-31089249086844447822009-07-16T07:27:57.690-07:002009-07-16T07:27:57.690-07:00Go for it. But you need to know that we have had ...Go for it. But you need to know that we have had much higher marginal tax rates on very high incomes in the past without social distress. I am working under the hypothesis that when you have a viable social contract, people at the top are willing to give back. Since Reagan, the public has been brainwashed that "greed is good" and taxing rich people more than the middle class is somehow un-American. It's not. Our top marginal tax rates were highest during our finest hours, I would maintain.<br /><br />See http://animalspiritspage.blogspot.com/2009/05/income-inequality-debt-crisis-and.htmlAnonymoushttps://www.blogger.com/profile/06852145145315416007noreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-46587575810776133712009-07-16T07:05:53.547-07:002009-07-16T07:05:53.547-07:00I still say fight the proper fight and push for a ...I still say fight the proper fight and push for a wealth tax. It is logical and although we've never used it, it would resonate with the American public if someone presented it properly. Very high marginal income tax rates may well generate social conflict without really fixing the problem. At least a wealth tax would fix the problem.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-80009947439977046612009-07-15T20:17:20.860-07:002009-07-15T20:17:20.860-07:00Make-work jobs have to be run by government--less ...Make-work jobs have to be run by government--less efficient than direct transfers.<br /><br />Protectionism starts trade wars that hurt everybody.Anonymoushttps://www.blogger.com/profile/06852145145315416007noreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-1552863477142159812009-07-15T19:35:13.768-07:002009-07-15T19:35:13.768-07:00What about protectionism and make-work jobs as pol...What about protectionism and make-work jobs as policy tools too?Aki_Izayoihttps://www.blogger.com/profile/02616285325005330787noreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-4719425725276066662009-07-15T17:39:10.158-07:002009-07-15T17:39:10.158-07:00Disclosure: I'm not wealthy, but live within ...Disclosure: I'm not wealthy, but live within my means and have no debt to speak of. I was a grad student and teacher for a long time.<br /><br />American neighborhoods sort out by income level. Property taxes are determined and administered locally, and go toward local municipal projects and education. So increases in property taxes on the wealthy would go toward services for themselves.<br /><br />I grew up in the New York area. It is unbelievably expensive now. I'd suggest moving. I did.Anonymoushttps://www.blogger.com/profile/06852145145315416007noreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-85693613067372875212009-07-15T15:30:06.051-07:002009-07-15T15:30:06.051-07:00If a wealth tax is "impossible" then I w...If a wealth tax is "impossible" then I would push for much higher property taxes for homes over $5m or something like that.<br /><br />The problem with very high marginal tax rates is that no one wins. Those already wealthy find ways to generate more income as capital gains, etc and can retire comfortably knowing it has become much harder to "catch them."<br /><br />Those (especially younger people) hoping to work hard and get wealthy now realize it is that much harder to accomplish and therefore will be inclined to try less hard. I fall into this category - I happen to live in New York and schools, property prices, etc are set by those already wealthy. If you now tell me there is a speed limit in this race, I am inclined to just not bother trying.<br /><br />If we are going to go through the pain of rewriting the social contract then we might as well redistribute for real - not the window-dressing version. I almost get the sense that you are already wealthy and therefore all in favor of making sure the next generation will never catch up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-90984651448479808962009-07-15T13:29:00.881-07:002009-07-15T13:29:00.881-07:00We've never had an explicit "wealth tax&q...We've never had an explicit "wealth tax" and aren't likely to get one soon. I'm using available tools.Anonymoushttps://www.blogger.com/profile/06852145145315416007noreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-89934997018660746932009-07-15T11:58:35.206-07:002009-07-15T11:58:35.206-07:00Why do you continue to advocate taxing those who a...Why do you continue to advocate taxing those who are trying to get rich? This will simply prevent the middle class from ever approaching the wealth of the upper class. A wealth tax is much more fair than a higher marginal tax rate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8270906704031641534.post-14241384386118916732009-07-15T07:40:29.656-07:002009-07-15T07:40:29.656-07:00This is awesome. Will send to pres, senator and r...This is awesome. Will send to pres, senator and reps as well.Brianhttps://www.blogger.com/profile/14589488913362026400noreply@blogger.com