http://yglesias.thinkprogress.org/archives/2008/09/a_thought_experiment_on_incentives.php I thought this deserved its own thread. This guy's basic thesis is that there's probably nothing wrong with confiscatory income rates on the very rich (8 figure annual incomes) because that'll steer the best'n'brightest away from finance, which doesn't really benefit the economy. I'm sympathetic to the argument. The median American citizen, I believe, would benefit more from a breakthrough in pedagogy or clean energy or computer hardware than from creating the next hot investment vehicle. OTOH, this might be an emotional reaction to this week's news. Thoughts?