trap – One common argument for a sharp increase in the

one common argument for a sharp increase in the top marginal tax rate is, as i observed last week, essentially punitive if you are concerned about the concentration of income and wealth per se, you might favor higher marginal tax rates even if you expect that they will provide a disincentive to earning taxable income and to savings and investment, perhaps on the grounds that any hit to growth will disproportionately burden high-income households it is worth noting, though, that even those who’d embrace this punitive case generally do so within limits to those in the mushy muddle, some reduction in growth might be acceptable, but not too much, especially if low- and middle-income households get caught in the crossfire