Comment Re:All for taxing the rich (Score 2) 257
You definitely should pay more marginal tax as you make more money, up to some point. The first $10 or $20k you make should be tax-free, and then the tax rate should become progressively higher after that, but should max out around 30% or so. But that's only 30% of income, not 30% of net assets. Taxing assets is theft. Taxing income is progressive.
However, the accumulation of wealth into the hands of people who make good investments (i.e. making good choices of what to spend it on so that they invest in something profitable) is a valuable feature of the system, and is the reason it's allowed to happen. The government is bad at choosing projects to invest in. The market does it automatically and in an efficient and distributed manner. Picking the right investments is the useful work that entrepreneurs and capitalists are providing to society. If you do something to prevent more capital being given to the people who are making the best investment decisions, then you're actively discouraging the efficient allocation of capital. That would be a good way to run your country into the ground.
The government's job is to regulate the negative aspects of capitalism. That means it has to prevent tax loop-holes for the wealthy (as you said), stop corrupt officials from profiting from their position, punish companies for monopolistic behavior, and reduce the influence of money in the political system. These are the things we should be voting for. Not a 5% government approved theft of assets.