I will give you five arguments for having a progressive tax:
Access & Influence. Those with money have access to those with political connections, thus they are in a position to influence policy. Large political contribution donors are important to politicians thus they are catered to. Also, can you afford to attend a $1000, $5000, $10000 a plate fund raiser for the big candidates where you get to meet them, exchange ideas, influence and seek favors. The ability of those with money to influence our political system for favorable legislation, pay to play, and other favorable treatment is serious since it gives a significant advantage to a small group. Another advantage is the ability to obtain “inside” information. This allows the wealthy to take advantage of planned actions that have not been released to the public, thus profit handsomely.
2. Legal system advantage. Those with money are provided an advantaged position in our legal system. Not only can they hire the best attorneys, but also whole legal teams including investigators, forensic specialists, and expert witnesses. They can also tie up valuable court time with frivolous motions and other delaying actions. The ability to pay "hush money" is another factor. Court time is high cost thus an ability to consume it in greater amounts should impose additional burdens on the wealthy. The wealthy are also typically granted less jail time, don't have to sit in a jail awaiting trial, and are afforded an overall less traumatic experience than a typical middle class family.
3. Expert advice advantage. The wealthy are able to hire experts to guide them on financial decisions and limit their tax liability. They also have greater access to wealth generation opportunities that have a high entry cost.
4. Military and Government service advantage. For many Americans, the military is the door to career opportunities. The most valuable being the GI Bill education benefit which assists in paying college costs. The wealthy have no need to serve unless desired since they have alternatives available without concern for costs. They also tend to shy away from working for the government too since the pay is low. The exception being positions of political influence.
5. Luck advantage. Luck plays a significant factor especially for those not born into money. An opportunity presents itself, and then hard work kicks in to make it pay off. Other luck factors: Being born into money, inheriting money or valuable land, having a high IQ, being blessed with good health, good upbringing, good parenting and good schooling.
Access & Influence. Those with money have access to those with political connections, thus they are in a position to influence policy. Large political contribution donors are important to politicians thus they are catered to. Also, can you afford to attend a $1000, $5000, $10000 a plate fund raiser for the big candidates where you get to meet them, exchange ideas, influence and seek favors. The ability of those with money to influence our political system for favorable legislation, pay to play, and other favorable treatment is serious since it gives a significant advantage to a small group. Another advantage is the ability to obtain “inside” information. This allows the wealthy to take advantage of planned actions that have not been released to the public, thus profit handsomely.
2. Legal system advantage. Those with money are provided an advantaged position in our legal system. Not only can they hire the best attorneys, but also whole legal teams including investigators, forensic specialists, and expert witnesses. They can also tie up valuable court time with frivolous motions and other delaying actions. The ability to pay "hush money" is another factor. Court time is high cost thus an ability to consume it in greater amounts should impose additional burdens on the wealthy. The wealthy are also typically granted less jail time, don't have to sit in a jail awaiting trial, and are afforded an overall less traumatic experience than a typical middle class family.
3. Expert advice advantage. The wealthy are able to hire experts to guide them on financial decisions and limit their tax liability. They also have greater access to wealth generation opportunities that have a high entry cost.
4. Military and Government service advantage. For many Americans, the military is the door to career opportunities. The most valuable being the GI Bill education benefit which assists in paying college costs. The wealthy have no need to serve unless desired since they have alternatives available without concern for costs. They also tend to shy away from working for the government too since the pay is low. The exception being positions of political influence.
5. Luck advantage. Luck plays a significant factor especially for those not born into money. An opportunity presents itself, and then hard work kicks in to make it pay off. Other luck factors: Being born into money, inheriting money or valuable land, having a high IQ, being blessed with good health, good upbringing, good parenting and good schooling.
