I read the comment published in the March edition on the notion of a wealth tax with a degree of frustration. If I was a bricklayer who worked fifty times faster than my peers there may be some merit to the argument that I deserved my wealth, but typically, wealthy people have simply had the good fortune to make timely investments or indeed to have inherited their wealth, or to be the beneficiary of a good foundation in life and education; things over which individuals have little control. The need to restrain wealth moreover is due to the tendency for it to be used as leverage to build yet more wealth. We see this most typically in property investment, which is demonstrably a form of extortion. We all suffer when our society favours the acquisition of wealth rather than a fair distribution to all and we should treasure our progressive tax system as a cornerstone of our relative stability.

Reply to article

For original story, Click Here.