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Comment by zaroth | Hacker News Reader

Not just percentage but a progressive percentage. So they paid even a higher percentage already!

I could understand wealth taxes in a deflationary environment only. In an inflationary environment wealth taxes are an abomination.

Instituting them against only the ultra-wealthy is just “boiling the frog” as the income targets will only possibly go down over time.

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you’ve got that the wrong way round. tax raises reduce inflation

Taxes increase inflation. You buy a steak at a restaurant. If they have to pay 50% extra for their employees in tax, and 50% extra for the meat then it will be more expensive for them to sell you the steak.

Modern Monetary Theory disagrees with you. Increasing taxes reduces spending & money supply, thus reducing inflation.

I don't take MMT serious. It has been wrong about almost everything. The theories are just theories without substance or evidence.

The detractors of MMT have been wrong far more consistently than it has been.

Which in effect leads to everyone wanting more money. So everything starts costing more. Thus inflation goes up.

Tax raises reduce inflation because hoarding money increases inflation. These people don't spend their money, they borrow against their assets. Taxing that hoarded money beings it out of the dragons' dens and back into circulation

Some day people who only ever took econ 101 and decided that they therefore understand completely how a complex set of interrelated systems work will realize that they're suffering from Dunning-Kruger effect, but apparently it won't be today.

Can only agree with you ;)

accusing others of the Dunning-Kruger effect is rarely a sign of a healthy mind

Is accusing others of having mental health problems less so, I wonder?

I suspect that implying someone is unhealthy is less unhealthy than implying someone is stupid

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