“And from a purely practical standpoint, while I suppose one might argue that the total happiness in this particular instant could be maximized by taking most all the rich’s marginal income, what happens tomorrow? It’s like eating your seed corn. Taking capital out of the hands of the folks who have been the most productive at employing capital and helicopter dropping it on the 99% feels good right up until you need some job creation or economic growth or productivity improvement.”
via Coyote Blog.
Immoral and short-sighted.