Climate Change and Rising Income Inequality: Is Ultra-Progressive Tax a Solution?

The climate crisis and rise in income inequality have created support for progressive taxes with a top marginal tax rate above 50%. Three strands of literature are discussed to show this trend: (1) climate change, (2) income inequality, and (3) taxing the wealthy. Thoughtful flaws are noted in the current paper, especially by giving special attention to growing call for a tax on the wealthy to pay for the fight against climate change and reduce income inequality.