It’s easy and almost risk-free to beat up on the rich. So, nearly everybody does it while our cultural institutions crank out a never-ending supply of calumnies against the wealthy. Yet it has been rich people or people trying hard to get rich who have showered inventions, improvements and innovations upon the rest of us, from affordable motor cars to smartphones. They’re the reason today’s “poor” have more at their fingertips than many wealthy of yore. Matthew Lau explains why the new wealth taxes being bandied about on both sides of the border are a bad idea for all.