Thank you Eugene! One thing that hasn’t been discussed much in this controversy
is whether, if indeed wealthy people were taxed more in a way that they could
not avoid paying, this would actually provide the funds that could make a
significant macro difference. The thrust of Piketty’s case is, that a rather
small group of wealthy people own an enormous stock of wealth, but his solution
is to appropriate some of their income through tax and redistribute it.
Question is, how effective that approach could really be, beyond achieving
moral satisfaction.
J.
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