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Heard someone I respect yesterday say that taxing the rich will remove key incentives from our system. What, um...malarkey. The kind that is marinated in bullshit. Consider that a group so large as to be statistically indistinguishable from everyone has no chance to make a $1B.
Or $1MM. And yet the incentives are sufficient for all of them to thrive. How many hundred millions are sufficient incentive to be entrepreneurial, develop new ideas? For virtually all of history no one had a chance to make a fraction of that and progress took place nonetheless.
When the tax code was fairer--as during Eisenhower--we prospered and were the richest and most powerful nation in the history of the world, leading it in innovation. This line of argument--central to the anti-fairness pushback in the Dem debate--is just indefensible.
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