Yes, worldwide hunger has fallen by 17 percent since 1990 (a lot less than world economic and productivity growth in the same period), but there are still 842 million people who don't have enough to eat. We could pat ourselves on the back and say "well done", or we could consider the fact that we're settling for a lot less than what we are capable of - http://www.wfp.org/hunger/stats
Inequality increase might be "normal" in our current political systems, but that doesn't make it desirable or inevitable. A progressive tax on wealth and income could prevent it from getting out of hand. Inequality is not bullshit, because first of all the extreme wealth in the hands of the rich could go a long way to feed and house the hungry and poor, and secondly wealth is power. Wealth can buy political power through lobbying and campaigning, ensuring that policies tend to shift ever in favour of the wealthy. Thus extreme inequality corresponds to extreme imbalances in power, undermining our democratic institutions.
On the first point, "you could approximately double the incomes of those living on less than $1.25 a day worldwide by transferring to them one-third of the consumption growth enjoyed by the world’s richest 1 percent since 1990. Think of it as bringing the consumption levels of the global 1 percent back to where they were around 2003 or 2004, in return for wiping out global absolute poverty. Is that such an unreasonable tradeoff?" - http://www.businessweek.com/articles/2013-12-09/how-to-end-g...
You claimed the fact that people had been lifted out of poverty since the 1970s was a sign that the economy was doing well. Why then is a 45 % tax such a problem, assuming the people paying it don't end up below the poverty level? Considering what governments provide in terms of infrastructure, safety, education, social security, and health care, is that so much to ask for? It seems only fair to pay back to society for the opportunities provided for us. Also from a utilitarian stand-point societies with less inequality have less crime and improved well-being (assuming the GDP per capita is not too low of course). Tax is a necessary part of a well functioning society, not a bogeyman. We should just make taxation more fair by not making the middle class pay a disproportionate share - the wealthy often pay a significantly lower tax percentage on their earnings due to income being taxed higher than capital gains.
High tax rates do not prevent economic growth, in fact the opposite seems to be the case: "During the 1950s and early 1960s, the top bracket income tax rate was over 90%--and the economy, middle-class, and stock market boomed." - http://www.businessinsider.com/history-of-tax-rates
Tax rates are at an all-time low, inequality levels are soaring, and economic growth is poor. The gains from the high levels of productivity growth we've seen since the 1970s have been accumulating among a small elite. Doesn't seem very ideal to me.
Inequality increase might be "normal" in our current political systems, but that doesn't make it desirable or inevitable. A progressive tax on wealth and income could prevent it from getting out of hand. Inequality is not bullshit, because first of all the extreme wealth in the hands of the rich could go a long way to feed and house the hungry and poor, and secondly wealth is power. Wealth can buy political power through lobbying and campaigning, ensuring that policies tend to shift ever in favour of the wealthy. Thus extreme inequality corresponds to extreme imbalances in power, undermining our democratic institutions.
On the first point, "you could approximately double the incomes of those living on less than $1.25 a day worldwide by transferring to them one-third of the consumption growth enjoyed by the world’s richest 1 percent since 1990. Think of it as bringing the consumption levels of the global 1 percent back to where they were around 2003 or 2004, in return for wiping out global absolute poverty. Is that such an unreasonable tradeoff?" - http://www.businessweek.com/articles/2013-12-09/how-to-end-g...
And while a lot of Chinese have moved from poverty to wage slavery, the economic narrative isn't really that rosy there either: http://www.businessweek.com/articles/2014-04-30/chinas-incom...
You claimed the fact that people had been lifted out of poverty since the 1970s was a sign that the economy was doing well. Why then is a 45 % tax such a problem, assuming the people paying it don't end up below the poverty level? Considering what governments provide in terms of infrastructure, safety, education, social security, and health care, is that so much to ask for? It seems only fair to pay back to society for the opportunities provided for us. Also from a utilitarian stand-point societies with less inequality have less crime and improved well-being (assuming the GDP per capita is not too low of course). Tax is a necessary part of a well functioning society, not a bogeyman. We should just make taxation more fair by not making the middle class pay a disproportionate share - the wealthy often pay a significantly lower tax percentage on their earnings due to income being taxed higher than capital gains.
High tax rates do not prevent economic growth, in fact the opposite seems to be the case: "During the 1950s and early 1960s, the top bracket income tax rate was over 90%--and the economy, middle-class, and stock market boomed." - http://www.businessinsider.com/history-of-tax-rates
Tax rates are at an all-time low, inequality levels are soaring, and economic growth is poor. The gains from the high levels of productivity growth we've seen since the 1970s have been accumulating among a small elite. Doesn't seem very ideal to me.