The purpose of high tax rates on the rich
"The purpose of high taxes on the rich is not to get the rich to pay money, it's to get the middle class to feel better about paying high taxes." This is what Jim Pinkerton, the journalist, Fox News contributor, and co-founder of the RATE (Reforming America’s Taxes Equitably) Coalition told an audience at a conference titled "The Tax & Regulatory Impact on Industry, Jobs & The Economy, and Consumers" produced by the Franklin Center for Government and Public Integrity. Pinkerton was referring to the economist F.A. Hayek. Others have also noted that changes to marginal tax rates often have…