This post illustrates why I wish FR had a "Like" button. How in the world does whether or not Mr. Moneypants buys another yacht affect my putting food on the table?
Mr. Moneypants quickly runs out of things to buy. There is only 24 hours in a day no matter how rich someone gets. They can only drive one car at a time, talk on one cell phone, watch one big screen TV, sleep in one bed, just like the rest of us. So they end up *investing* most of their surplus, often very smartly, indirectly creating jobs for the rest of us. If the government gets their hands on it they will destroy that wealth, and we will all be that much poorer for it. The biggest reason to let rich people keep their wealth is because they do not waste it on government hirelings and other moochers.