On the contrary. Without the lure of an 8 figure income, a person might choose to go into research science, engineering, medicine, teaching, etc. instead of becoming a hedge fund manager.

> Why should someone be punished for making more money?

Taxes are not a punishment, though they may be a disincentive. Taxes are also not a payment in exchange for services.

Taxes may not be meant to be a punishment, but they are certainly presented as such in certain cases.

"Those one-percenters make too much; make them pay their fair share!" "Smoking is bad; raise taxes on tobacco products"

> Taxes may not be meant to be a punishment, but they are certainly presented as such in certain cases.

> "Those one-percenters make too much; make them pay their fair share!" "Smoking is bad; raise taxes on tobacco products"

That first pseudoquote is not presenting taxes as a punishment. It's presenting them as a fulfillment of social responsibility to "pay a fair share." The second one is presenting them as a disincentive for a harmful behavior.

When somebody makes $20M/year, do they really do it for the money at this point? Is it really what keeps them going? If so, I would argue that these people are mentally ill.

Do we have any study or proof demonstrating that if we applied a 100% tax rate above $20M/year people would just stop working?

And I don't see that as a punishment. The money not spend on crazy CEO incomes can be used to pay other workers better, or invest in innovation since that's what you brought up.

> Do we have any study or proof demonstrating that if we applied a 100% tax rate above $20M/year people would just stop working?

I would likely stop working. Pay me $20M + $1 and let's check...