Wealth inequality is soaring – here are the 10 reasons why it’s happening

FULL STORY by Dominic Frisby: The GUARDIAN…..

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Income tax

If you have nothing, the only way you can narrow the gap between you and those at the top is by working, but you are constantly and heavily taxed on your labour. The wealth of those at the top, meanwhile, doesn’t derive from their salaries, but from the appreciation in price of their companies, their real estate, their bonds and so on, which largely go untaxed, unless they sell (so most don’t). Our society is geared to owning assets. Hard work and productivity are penalised. Successive governments claim to be “supporting hardworking families”. Really? Don’t tax labour so heavily, then. Tax something else – such as land.