

© Lloyd Dangle

I think it is ironic that cartoons like this one tend to attack the richest people (“billionaires”) while in my experience it is what I would call the “barely rich” who are the most freaked out about taxes. They are the ones who feel the most competitive with the people around them who have more money, while the uber-rich (people like Warren Buffett and William Gates Sr.) tend to be OK with higher taxes, and even advocate for them. After all, how rich you feel depends more on how much money you have compared to the people with whom you socialize the most.

On the other hand, the “barely rich” should be in favor of a strongly progressive tax schedule, since people richer than them would be taxed more. But I’m sure they aren’t thinking that clearly about it.