I agree the focus should be on raising middle incomes instead

So once you’ve done that, then you put that in a wash machine. Use OxiClean. Use any sort of bleach formula so you’re almost double washing those white, white uniforms. I agree the focus should be on raising middle incomes instead of lowering the highest incomes, but not because I think lowering top incomes some would cause important disincentives. Lowering top incomes would increase the returns to capital but not increase middle incomes or aggregate demand much. Posner seems to assume that any substantial changes in economic policy will make things worse rather than better.

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