20 year study of global wealth demolishes the myth of ‘trickle-down’
I guess I’m not surprised that a bunch of folks who have made a career out of advising politicians on income inequality….discovered income inequality in their study.The two questions in my mind are:1. Should we trust the government to spend the money more wisely than the folks who earned it? Or said another way, how do you combat the almost inevitable corruption you see with large government spending?
2. What will incentivize people to work at insane rates if the vast majority of their income and wealth is taxed? Would I be willing to put in the long hours and sacrifices usually required to work up to a $1m+ salary if it’s taxed at a 90% rate?