by Patrick Appel
Hamilton Nolan advocates for a maximum income. Derek Thompson calls the proposal "crazy":
[H]ow would this idea even work? What would it do? We don't know what would happen if we applied a top marginal rate of 100% because something like this has never been tried in an advanced economy that I'm aware of. But for the super-rich, it certainly sends a clear message: Don't work so hard. And if you want to work hard, do it some place else.
Dylan Matthews piles on:
If you have a maximum income that includes income from investments, there’s very little reason for people to save money in places they think are going to get a high return. The result is that good projects that would yield a lot of dividends are underfunded, because the extra gains realized would just get grabbed by the government anyway. If good projects aren’t getting funded, the consequences for growth – not just for the rich but for everybody – are pretty grave.
The Dish 