Quote Originally Posted by rb336 View Post
The top 15% may pay 85% of the taxes, but they control 98% of the wealth. They should pay 98% of the taxes
That's the first logical argument for increasing taxes on the wealthy.

And if fairness is your goal, then you might achieve it. However if you tax wealth, you may find less of it.

We call it Income Tax. We don't call it Wealth Tax.

Maybe we should tax wealth in some way. At least unless it is being productively used. If you tax wealth, you also would want to exempt taxaction of capital that's invested. That's why we have a lower capital gains rate than income rate. We want that money used.