Here is an article from the Forbes that addresses one of the biggest economic problems: the growing inequality. Income inequality has been growing in most developed countries in recent years. It gave rise to the Occupy movement in many countries. We do know that the bigger income inequality, the less happy people say they are. The effects of income inequality on economic performance are debatable.
Income redistribution is not really an economic question: it is a social question and different societies approach it differently. In Scandinavian countries income taxes are very progressive, income inequality is low, people are happy and quite wealthy. There are other societal arrangements as well.
Here is a voice from the other side. Mr. Binswanger argues that the rich should pay no taxes and that the 99% should give to the 1%.
Well, he is obviously .... , let us say politely Hobin Rood, or Robin Hood in reverse
But why is this argument wrong from the economic point of view?
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