How to get rich without getting lucky (2018)
>> But then of course Uncle Sam show up, and basically say, “Hey, you know what, you just made a lot money this year. Therefore, you’re rich. Therefore, you’re evil and you’ve got to hand it all over to us.”The government doesn't tax rich people because they're evil - they tax rich people to provide food, education, and security for society. Progressive taxes are useful because they help fight poverty and allow the very poor to participate in the market (extreme inequality and the resulting poverty is regarded by most economists as a market failure).This guy mentions the importance of education, but does he realize that K-12 education is payed for by taxes? Unfortunately, inter-generational wealth mobility in the US is quite low, much lower than in most of Europe, where taxes happen to be much more progressive. You could argue that progressive taxes lead to wealth mobility; they provide the funding for education and other services that give poor folks the means to acquire wealth.