"There are competing explanations for the rise in inequality. Those on one side argue that wealth concentration is natural as a result of globalization, technology gains, and economic growth, which give enormous rewards to the smartest, innovative, and most hardworking people. Drastically increasing tax rates, they say, would discourage innovation and hurt the economy.
The other camp sees rising inequality as unfair, immoral, and a threat to society.
Saez and Zucman are firmly in the second camp."
~ N. Krishan
https://www.washingtonexaminer.com/policy/economy/the-berkeley-economists-advising-both-warren-and-sanders-on-their-groundbreaking-wealth-tax-proposals
"The American economy just doesn’t function very well when tax rates on the rich are low and inequality is sky high. It was true in the lead-up to the Great Depression, and it’s been true recently. Which means that raising high-end taxes isn’t about punishing the rich (who, by the way, will still be rich). It’s about creating an economy that works better for the vast majority of Americans.
In their book, Saez and Zucman sketch out a modern progressive tax code."
~ D. Leonhardt
https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.html?action=click&module=Opinion&pgtype=Homepage
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