Somebody who gets it...

Great discussion on what could be called willful ignorance on the subject of taxation over at Scalzi's Place, and a link from a commenter there to this excellent LA Times piece by a venture capitalist.

Money quote below:

 When inequality gets too far out of balance, as it did over the course of the last decade, the wealthy end up saving too much while members of the middle class can't afford to spend much unless they borrow excessively. Eventually, the economy stalls for lack of demand, and we see the kind of deflationary spiral we find ourselves in now. I believe it is no coincidence that the two highest peaks in American income inequality came in 1929 and 2008, and that the following years were marked by low economic activity and significant unemployment.

What he said.