There is a thing about wealth. It is a level of wealth, above which the holders have nothing to worry about. They don't even have to work; and the rest of their life is all paid for.
That's because wealth is the result of working smart, or having enough money to work for you.
Once an individual has that level of wealth, they no longer have to work.
They can work if they choose to, but really, they don't have to.
If they work, it is all because that's just what they want to do.
The upper half of the country gets there after a lifetime of working. They can enjoy a nice retirement.
The lower half never gets there. They continue to work after retirement age because they have to.
A very few are born into great wealth, and are already at that magic threshold.
No matter how people make it to easy street, they should certainly be taxed their fair share. For most, it is a small percentage of their income. If they are taxed too much, it's not really fair for them to be paying so much of their income because it impacts their lifestyle.
But for the super-rich, heavy taxing does not impact their lifestyle one little bit. People who own jet airplanes, multiple mansions, expensive luxury homes, huge yachts, multiple country club memberships, tons of really pricey fine art, and still have disposable wealth worth more than all their homes? They are super-rich. Most of their money is in the market. It's really just play money to them. They can be taxed at a far higher rate and their lifestyles of opulence will not be affected at all. They will still be very rich. They will still want for nothing.
Those are the rich we need to tax more. Doing so will pay for this $3.5 Trillion economic plan that is so needed.
It is the right thing to do.
