Progressive taxation fear-mongering: another myth of hypercapitalists

This is one of the biggies the fiscal far right always loves to trot out. It has several components, and I’ll tackle the top ones.

First is that this is “punitive.”
Nonsense. The well-to-do most benefit from an orderly society, and the very well-to-do benefit even further from the muscle of lobbyists, etc., and should pay more for that, including for the “bread and circuses” that are today’s opiate of the masses.

Second, this will discourage the rich from working harder and making more.
More nonsense. There’s plenty of rich people that have come out of western Europe, like Richard Branson, who not only appear to continue to work hard, but also work creatively. Besides, when you’re a billionaire, from what I know of human psychology, it’s not the money that keeps you motivated, per se, but the challenge of making more — the thrill of the chase. It’s also the competition on those Fortune 500-type lists — where do you rank? And, if more of your income is from Europe rather than the U.S., your competition makes the mental adjustments.

Third, this is not “fair” to have progressive rates.
Funny, many hypercapitalists will use the same “not fair” argument when arguing against various types of welfare benefits. Nothing’s fair in life, arguably, so welcome to getting hoist by your own petard.

Fourth, it’s “my” money, not the government’s.
See talking point No. 2. If you really want it to be “your” money, buy an entire uninhabited island and try to start your own country.