Quote Originally Posted by mojo
I'm just asking what you feel are pros and cons about what I see as a runaway situation... and a dangerous one at that.
Well I thought I answered your concern about a "runaway situation", and that is that I don't agree it is a runaway situation. It can't be. I compared it to a tide. Not a perfect analogy because tides are predictable, maybe El Nino / La Nina cycle is a better analogy. It's a cycle, that is the important thing to take.

The fact of increasing wealth inequality world-wide is indisputable.
I can dispute whether this is a bad thing or not though. You'll have to tell me why it's increasing for me to answer that. If it's increasing because there are more higher paid jobs than before, and more lower paid jobs, with the same amount of middle paid jobs, then why is this a bad thing? All that happened is more jobs.

To me, this seems like a very dangerous situation to allow the society to get into.
A bit of wealth inequality is good. Too much is too much.
But how much is too much?
I'm not qualified to answer this and neither are you and poop. But I can have faith in the system that when it gets "too much", a reversing trend is inevitable, and it's market forces that make it happen, not conscious human policy. The economy is dynamic, constantly adapting to the changing landscape.

You can close the income gap by creating more average paid jobs. The more people who earn the average, the lower the wage gap. That's what a wage gap tells us. It tells us that the economy is unbalanced, there are lots of low paid jobs and lots of high paid jobs. That balance is not controlled by people. You can't just create middle paid jobs out of thin air, you have to invest to create those jobs. And to invest, you need capital.

CGT is categorically not immoral.