Are they really worried that these people will lose incentive to work hard, and the economy will suffer? Or that markets for luxury goods will crumble? I suspect what many really feel is that successful people deserve praise and admiration, while increasing their taxes puts them down
I doubt the economists on that side of the issue have fallen into this trap. It seems at least more charitable to assume they mean it when they say it will disincentivize creating wealth.
I doubt the economists on that side of the issue have fallen into this trap. It seems at least more charitable to assume they mean it when they say it will disincentivize creating wealth.