[jojojaf]

I'm not advocating any specific high-end wealth tax rate, but I think at the moment they are very low. I think it would be interesting and relevant to future policy making to have historical data about which such tax rates have worked in the past. Wealth inequality is currently a huge problem in the world, and as far as I can see any kind of arguments against tackling it such as 'we'll miss out on innovation' are capitalist propaganda. This is why it would be good to have accurate historical data to respond to these kind of arguments.

I've reread my post that you responded to and when OP says 'tax rates are meaningless signaling to low income voters because no one pays these rates', my response is 'taxes should be better enforced so that people do indeed pay the stated rates'.

[robertlagrant]

> Wealth inequality is currently a huge problem in the world

This is a problematic statement. Wealth inequality is not a huge problem. If we removed all the billionaires, people who are currently starving or unable to get clean water would still be in the same situation. Getting the base level of human condition up is the important thing, and it generally occurs much more in systems that are not trying to crush people who create vast amounts of value.

> as far as I can see any kind of arguments against tackling it such as 'we'll miss out on innovation' are capitalist propaganda. This is why it would be good to have accurate historical data to respond to these kind of arguments.

I don't see why this is the case. If you let people take more risks and try more things, with commensurate value exchange to the value they provide, then more things will appear. That's just normal.

You can see it in the small even - if teams are allowed to fail and succeed by taking risks, then they will take some risks. If they are never rewarded for succeeding, or even punished for succeeding, then they will never try.

[jojojaf]

The capitalist promise is something like, 'you don't need to enforce social responsibility on us because when we get rich enough there'll be enough wealth and we will just share it anyway of our own accord'. Maybe in the 1800s or earlier then it could have been reasonable to believe this, but in the current world climate it hasn't happened. Wealth inequality is at the highest it has ever been. The purpose of the existence of government historically was to combat this problem.

If you don't see why wealth inequality is a problem then look at biodiversity for example. It's generally accepted that wider biodiversity is better for everyone, and efforts to conserve a wider range of diverse species rather than a smaller number of better adapted species are encouraged. Now apply this reasoning to businesses. If wealth were redistributed better that would mean more chances for people of the lower end of the spectrum to innovate and produce small businesses which would lead to wider diversity and resilience in the economy. Which ties in with your small team example.

As for 'capitalist propaganda'; for example, considering higher wealth tax rates for the top end as 'crushing those who generate wealth' is pretty clearly capitalist doctrine to me. It's the kind of narrative that wealthy people in positions of power sell so that they don't have to redistribute that wealth. I agree with you that people at the high end should have incentives to innovate and I am not advocating communism. However as far as I can see, with properly globally enforced taxes at a higher rate for top end wealth there would still be plenty of incentive for these people to innovate.