Re:Economic Inequality
by ghufran_syed on Saturday January 02, 2016 @02:01PM
(#10827360)
The chart you presented doesn't show the value created, just the value captured by a given segment. Wouldn't that be an important consideration? It's estimated that innovators, the group that Dr Graham is talking about, only capture around 2% of the value they create, with the rest going to society [1]. That's the whole point of the essay, that maybe reducing the 'absurd' levels of wealth will also lead to reduction in the levels of value creation that society currently benefits from.
People with more money pay taxes at a lower rate than people without. It's very easy to pick obvious cutoffs where people are wealthy to the point of absurdity compared to their "peers".