Squeezing the rich is good: even when it raises no money

by Chris Bertram on February 2, 2014

In the UK the press and commentariat have been in a huff about Labour’s proposal to levy income tax at 50% on incomes above £150,000. This is supposedly “anti-business” and “sends the wrong signal”, despite the fact that the top rate was higher under Thatcher. Much noise also about the danger that “wealth creators” (whoever they are) may leave and go off to other jurisdictions, concern unaffected by the fact that lots of other countries tax those on high incomes at a steeper rate. All of this is to be expected of course, as is the fact that journalists, who, when spouting right-wing guff, claim to be “reflecting” the views of their readers, continue to spout it when those readers disagree, as in this case.
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The Ring of Gyges

by John Holbo on February 2, 2014

The point of the myth, from Book II of Republic, is clear because it’s utterly explicit. This is a thought-experiment to explore the proposition that humans will only do right – be just – under duress and compulsion. What you can get away with, you will get away with. So imagine a guy who can act with impunity. What would he do? That’s your answer.

But what do we make of all the dramatic incidentals, which seem to be Plato’s invention? Why Gyges, in particular (or an ancestor of Gyges)? Why a shepherd? Why an earthquake? Why a crack in the earth? Why a hollow bronze horse with little doors? Why a dead giant (larger than a man)? [click to continue…]