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The wealthy person has no need to buy ever-bigger houses, bigger cars, or boats. No need to spoil his children with more toys and other possessions. His tax rate, the highest in years, will be the only status symbol he needs.
So far I have spoken only of the selfish pleasure he can take in his high tax rate. But in solving the present government fiscal crisis, if the burden is to rest on the backs of the poor, the elderly, those in poor health, children, students, homeowners, and charitable givers, the rich person will surely feel guilty as he stands idly by, unable to contribute to the solution.
All of us concerned about the plight of the wealthy must do all we can to grant them the tax hike they so richly deserve.