Paul’s arguing for punitive taxes on positional goods for the sake of reducing wasteful consumption. I think Sumner’s mostly trying to argue that the social costs of taxing the consumption of the rich are low. I agree with the latter point, for roughly the same reason I disagree with the former; I think wasteful conspicuous consumption’s a side-effect of limited opportunities for more substantive consumption or investment.
Paul’s arguing for punitive taxes on positional goods for the sake of reducing wasteful consumption. I think Sumner’s mostly trying to argue that the social costs of taxing the consumption of the rich are low. I agree with the latter point, for roughly the same reason I disagree with the former; I think wasteful conspicuous consumption’s a side-effect of limited opportunities for more substantive consumption or investment.