As you’re about to see via several videos, the war cry of “tax the rich” is used to enact policies that damage the middle class. Before we get into the meat of this though, as always, we need to clarify our definitions.
Much like how people tend to group “the poor” into one block of people, despite the fact there are two distinct types of poor, people also group “the rich” into one block as well.
Calling a hedge fund manager who made $800 million income last year “rich,” even as a pejorative, is fine. He’s clearly rich and clearly a Wall Street insider, supported by government in several ways because of corporatism. Do I care if government raises taxes on this guy? Not really.